Indonesia`s economic growth predicted to grow 5.2 percent in 2016

Jakarta (ANTARA News) - Economist of Development Bank of Singapore (DBS) Gundy Cahyadi predicted Indonesian economy would grow 5.2 percent this year .

"The countrys economic growth in 2016 would be faster than in 2015 when the economy grew only by less than 5 percent or 4.8 percent. This year it is likely to be 5.2 percent," Gundy said here on Friday.

He said growth would be driven by increase in investment and government spending, which is expected to be more effective this year.

He said the consumption sector, which is the main pillar driving the countrys economic growth, is relatively stable.

"The growth is 75 percent attributable to domestic factors including investment and consumption. It is different with Singapore or Hong Kong which are more export oriented," he said.

He predicted that the countrys long term economic growth could reach 6 percent in the next five years of the country is no longer depends only on commodities in exports.

"In the past the country could rely on commodities. Now it cant . The government has done right by seeking to strengthen the manufacturing and industrial sector as the driver of growth," he said.

In the first quarter of 2016, the countrys economy grew only by 5.1 percent.

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