Indonesia’s Economy Grows 5.02% in 2016

Jakarta, The Indonesian economy grew 5.02% in 2016, up from the revised 4.88% the previous year.

The financial industry posted the highest growth last year, at 8.90%, the country's Central Bureau of Statistics said on Monday.

Gross domestic product (GDP) rose 4.94% in the fourth quarter from a year earlier, a contraction of 1.77% from the previous three-month period, the bureau said.

Southeast Asia's largest economy has experienced a slowdown because of sluggish foreign demand for commodities.

President Joko Widodo has introduced a series of measures to speed up infrastructure development, attract investors and protect jobs.

Source: Qatar News Agency