"This is important because despite global pressure due to trade wars, normalization of the Fed`s policies, and rising CPO prices, we can still maintain growth," Nasution stated here on Tuesday.
Nasution noted that the economic growth, supported by the performance of household consumption and investment, has been relatively adequate despite many internal and external factors that have the potential to cause a slowdown.
With this condition, Nasution predicted that economic growth at the end of the year could reach 5.2 percent, even though it had not met the previously set target of 5.4 percent.
However, Nasution highlighted the pace of exports that could not contribute to economic growth and the high imports needed for investment in this period.
"We have not been able to push exports as fast as expected. Hence, there is still an imbalance in the trade balance. This is still lacking in economic growth," he explained.
Previously, the Central Statistics Agency (BPS) noted that the Indonesian economy in the third quarter of 2018 grew by 5.17 percent, so that the national economy cumulatively grew 5.17 percent.
Household consumption in this period grew 5.01 percent, followed by exports at 7.52 percent, gross fixed capital formation at 6.96 percent, and government consumption 6.28 percent.
However, spending that grew high in the third quarter of 2018 was the consumption of non-profit institutions serving households (LNPRT), which was 8.54 percent, because the stages of simultaneous elections had begun.
One of the highlights was the high import growth in the period recorded at 14.06 percent, due to the increase in the value of imported goods, which was recorded at US$49.72 billion.
Meanwhile, Indonesia`s GDP structure is still dominated by household consumption, which accounts for 55.26 percent, followed by gross fixed capital formation at 32.12 percent, exports at 22.14 percent, and government consumption at 8.7 percent.
Despite recording growth, LNPRT consumption only contributed 1.19 percent to the GDP structure according to expenditure.
Reporting by Satyagraha
Editing by Andi Abdussalam
Reporter: Antara
Editor: Suharto
Copyright © ANTARA 2018
