News Column

Indonesia's economy grows 5.78% in 2013, slowest pace since 2009

February 4, 2014

JAKARTA , Feb. 5 -- ( Kyodo ) _ The Indonesian economy in 2013 expanded at its slowest pace in four years with growth of 5.78 percent, the Central Bureau of Statistics said Wednesday. The bureau attributed the figure to sluggish exports and higher interest rates that dragged on consumption as the central bank has raised its benchmark rate by 1.75 percentage points since June. Southeast Asia's largest economy has seen annual growth of more than 6 percent in recent years -- reporting 6.23 percent in 2012 and 6.5 percent in 2011 -- spurred by increased consumer spending among its growing middle class. Analysts had predicted a growth slowdown in 2013, forecasting 5.3 percent.

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Source: Japan Economic Newswire

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