Indonesia's Q2 GDP Growth Tops Expectations

Indonesia's economy grew more than expected in the second quarter, figures from the Central Statistics Agency showed Friday.

Gross domestic product expanded 5.18 percent year-on-year in the second quarter, faster than the revised 4.91 percent growth in the first quarter and the expected rate of 5 percent.

On a quarterly basis, the economy grew 4.02 percent versus a 0.34 percent contraction in the previous three months. This was also better than the 3.8 percent expected growth.

Gareth Leather, a senior Asia economist at Capital Economics said the worst for Indonesia's economy is now over but a combination of fiscal tightening and low commodity prices will keep growth stuck at around 5 percent over the next couple of years.

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