Indonesia reported a 5.1% GDP growth in the first quarter of 2019, a result which mirrored the country’s economic performance in Q1 2018 and was slightly below the 2018 average of 5.2%. Exports declined for the first time since Q3 2016, dropping by 2.1%.
On the other hand, government consumption growth increased to 5.2%, while household expenditure growth remained almost unchanged at 5%. GDP performance, however, is still far from re-elected President Widodo’s target of 7% growth.
Indonesia recorded the smallest fiscal deficit in six years, despite financial markets uncertainty and currency depreciation due to capital outflows.
The consolidated budget deficit in 2018 was 1.75% of nominal GDP, narrower than the government's original plan of 2.2% and far below the 3% threshold set by law
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