Indonesia Economic Growth Slows to 4.94% in Third Quarter
- GDP grows 4.94% in third quarter, slowest pace in two years
- Economic growth dragged by declining exports, state spending
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Indonesia will ramp up the disbursement of social assistance in the coming months after government underspending halted seven straight quarters of above-5% growth.
Official data Monday showed gross domestic product expanded 4.94% in the third quarter from a year ago, less than the 5% median estimate from analysts surveyed by Bloomberg. The economy grew 1.6% from the previous three months, also softer than the 1.67% survey estimate.