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Behind the Euphoria of Record Economic Growth in Q2 2018

Economic growth in the second quarter was higher than the forecasts of analysts and economists, but keeping this up until the end of the year could be difficult.

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| Elnur Amikishiyev | 123rf.com

Indonesia's economic growth of 5.27 percent (yoy) in the second quarter of 2018 has sparked euphoria because it was the highest quarterly growth during the administration of President Joko Widodo (Jokowi). However, this euphoria is likely to be short-lived due to limited economic drivers until the end of the year.

On Monday (6/8), Statistics Indonesia (BPS) announced economic growth of 5.27 percent in the second quarter of 2018, the highest since the fourth quarter of 2013. This figure was higher than the analysts’ consensus of 5.1 percent and the Bank Indonesia (BI) projection, which was corrected down from 5.2 percent to 5.15 percent.

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