Indonesia Escapes Economic Crisis, Top Minister Says
Jakarta. Indonesia is not experiencing an economic crisis, Coordinating Minister for Political, Legal and Security Affairs Luhut Panjaitan said on Monday, citing rising demand in a number of key sectors that had previously seen a slowdown.
Luhut said that cement production, as well as demand for motorcycles and steel, was back to normal.
"I've just received guests from REI [property group Real Estate Indonesia], and they told me that things are getting better now. Next year in the second quarter, property demand will increase again," the coordinating minister said.
As reported by the Central Statistics Agency (BPS), Indonesia's economy grew 4.73 percent in the third quarter of this year, a slight increase compared with the 4.67 percent growth in the second quarter.
However, growth in the third quarter is still lower than the 5.01 percent recorded in the same period of 2014.
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