The Indonesian economy is estimated to grow by more than 6 percent in this year's third quarter on the back of robust private consumption, investment and export, the Jakarta Post daily Friday quoted head of fiscal policy of the Finance Ministry Anggito Abimanyu as reporting.
"Growth in consumer goods was relatively high. Exports were also on track although imports were relatively high," Anggito Abimanyu said.
The exact figure will be issued next Monday, he added.
The South East Asia's biggest economy has seen car and motorcycle sales growth at the fastest pace since the 1997 Asian financial crisis, as commodity boom makes people living in plantation and mining areas wealthier.
Cement consumption, also a standard of living indicator, remained resilient despite higher construction costs, showing 16 percent growth to 25.6 million tons in the first eight months of 2008 compared to the same period last year. During the first half of the year, the economy unexpectedly grew by 6.4 percent due to strong exports, particularly commodities, according to the Central Statistics Agency (BPS).
Analysts have predicted that the Indonesian economy will grow by slightly less than 6 percent by the year end, below the government's expectation of 6.2 percent.
BPS Chairman Rusman Heriawan said the country's economy in the third quarter of 2008 was likely be a bit below the 6.4 percent growth recorded in the second quarter of the year.
He said the government has worked hard to ensure inflation, as the main culprit undermining the economy, be kept below 11.4 percent.
Between January and August, inflation reached 9.4 percent, BPS reported. Year-on-year inflation, meanwhile, stood at 11.85 percent, he added.
Source:Xinhua
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