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Indonesia Missing Turnaround With Foreign Investment Stagnating

Foreign direct investment in Indonesia stagnated last quarter, indicating President Joko Widodo has yet to engineer a turnaround for an economy growing at its slowest pace in more than five years.

Investment from overseas was $7.4 billion in the three months through June, little changed from a year earlier in dollar terms, the Investment Coordinating Board said in Jakarta Monday. Total investment, including from domestic sources, rose 16.3 percent to 135.1 trillion rupiah, or $10 billion based on the current exchange rate, compared with a 16.9 percent gain in the first quarter.