Bank Indonesia Governor Agus Martowardojo. (Antara Photo/Wahyu Putro)

Bank Indonesia Revises 2017 GDP Growth Forecast to 5.1%


NOVEMBER 16, 2017

Jakarta. Bank Indonesia revised its forecast for 2017 economic growth to 5.1 percent on Thursday (16/11), near the lower end of its previous range of 5.0 percent to 5.4 percent.

The central bank announced the change at the end of a policy meeting at which it held the key policy rate at 4.25 percent, as widely expected.

Earlier this month, Indonesia reported annual growth of 5.06 percent in the third quarter, which fell short of the market's projection of 5.13 percent.

On Thursday, the central bank said it expected the current-account deficit for 2017 to be less than 2 percent of gross domestic product, and it expects the headline inflation rate to be between 3.0 and 3.5 percent at year-end.