Indonesia lowers 2016 growth forecast to 5.1%

The Indonesian government has lowered the economic growth target for 2016 to 5.1%, down from the 5.3% set at the beginning of the year.

Dosmestic consumption is unlikely to grow as strong as it was first forecasted said Suahasil Nazara, head of the Fiscal Policy Office in the Ministry of Finance. By lowering the growth target, it necessitate adjustment of the State budget which is likely to impact spending on infrastructure. 

Source: ITTO