Investment Increase To Boost Economic Growth: VP

Jakarta, (Antara Sumbar) - Vice President Jusuf Kalla stated that the increase of domestic and foreign investment is important to boost economic growth that in the third quarter 2017 grew by 5.06 percent.

"Boosting growth requires more investment and exports," VP Kalla said here on Tuesday.

The Central Bureau of Statistics (BPS) noted that Indonesia's economy by expenditure in the third quarter 2017 grew by 5.06 percent year-on-year (yoy). The highest growth that drives economic growth is export.

The highest growth was achieved by goods and services exports of 17.27 percent (yoy) and contributed 20.50 percent to the structure of gross domestic product. Most of Indonesia's exports are destined to China, the United States, Japan, India, and Singapore.

Meanwhile, non-oil and gas exports grew by 20.51 percent (yoy) with vegetable fats and oils as the main commodities. Meanwhile, oil and gas export grew by 3.20 percent (yoy).

Service sector also grew by 12.40 percent as the number of foreign tourists arriving in Indonesia and the amount of foreign exchange revenue from tourism increased.

"Export performance should be higher because the state budget is maximum," Kalla said.

He added that export performance could be improved by accelerating the completion of 16 international negotiations.

Some of these negotiations include the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU CEPA) and the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA).

"I have summoned the Minister of Trade to speed up the negotiations that have major impacts," Kalla said.

BPS noted that the Indonesian economy based on GDP at current prices in Q3/2017 reached Rp3,502.3 trillion and at constant 2010 prices reached Rp2,551.5 trillion.

With the achievement of economic growth of 5.06 percent (yoy), the Indonesian economy up to quarter III-2017 cumulatively grew by 5.03 percent. (*)

Editor: Vicha Faradika