Indonesian economic growth picks up in first quarter

JAKARTA: Indonesian growth accelerated slightly in the first quarter on improving exports, official data showed on Friday, but the outlook for the recovery in Southeast Asia’s top economy is subdued.
President Joko Widodo came to power in 2014 on a pledge to boost growth to seven per cent but his government has struggled to lift rates in the country, which is rich in resources but has suffered from a slump in commodity prices.
The economy grew 5.01 per cent year-on year in January-March, slightly up from the previous quarter’s 4.94 per cent, according to the statistics agency.
Exports surged 20.8 per cent on-year, and grew 1.33 per cent from the previous three months, said statistics agency chief Suhariyanto, who goes by one name.
The increase came on the back of a jump in the prices of some food exports, such as tea and shrimp, according to the statistics agency, while improving conditions in key destinations such as China and the United States also helped. — AFP