Govt hopes disasters not to effect economic growth

Jakarta, (ANTARA News) - Indonesian Finance Minister Sri Mulyani Indrawati has expressed hope natural disasters that engulfed Lombok island in West Nusa Tenggara province and Palu city in Central Sulawesi province will not affect the countrys third-quarter economic growth.

"We hope (the disasters) will have no great effect on the economic growth since the contributions of Central Sulawesi and West Nusa Tenggara to the national gross domestic product are not significant," she said here on Wednesday.

After all, the minister hoped the rehabilitation and reconstruction of the affected areas could be completed soon and that the stalled economy there would recover soon.

"Of course, we expect the rehabilitation and reconstruction process will lead to the recovery of economic activities in the two regions since it will have a positive impact on our economy (as a whole)," she said.

The Central Statistics Agency (BPS) announced earlier that the national economy grew 5.27 percent in the second quarter of 2018, bringing the countrys first-semester economic growth to 5.17 percent.

The second-quarter growth was mostly fueled by rising household consumption during the fasting month of Ramadhan and subsequent festivities called Lebaran.

The government has set the economic growth target for 2018 at 5.14-5.21 percent, lower than the previous forecast of 5.2-5.6 percent.

Source: ANTARA News

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