South East Asia’s largest economy, Indonesia, grew at its weakest annual pace since 2009 in the first quarter of this year.
The economy expanded 4.7% from January to March from a year ago – weaker than 5% in the fourth quarter of last year.
The figure also missed market expectations of growth of about 4.95% for the quarter.
Indonesia’s growth was hurt by a slowing demand for exports and falling oil prices, the government said.
Glenn Maguire, Asia chief economist for ANZ, said the data confirms the view that the Indonesian economy is struggling to find a “base”.
“Indeed, it appears that the government will be attempting to rely on fiscal policy – bringing forward infrastructure spending to stabilise growth,” he told Reuters.
via BBC
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