{"id":1511,"date":"2014-02-06T06:41:15","date_gmt":"2014-02-06T14:41:15","guid":{"rendered":"http:\/\/66.147.244.209\/~canadiu3\/?p=1511"},"modified":"2014-02-06T07:05:52","modified_gmt":"2014-02-06T15:05:52","slug":"indonesias-economy-grows-at-slowest-pace-since-2009-on-commodity-slowdown","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/02\/06\/indonesias-economy-grows-at-slowest-pace-since-2009-on-commodity-slowdown\/","title":{"rendered":"Indonesia\u2019s economy grows at slowest pace since 2009 on commodity slowdown"},"content":{"rendered":"
\"Photo<\/a>
Photo from globalindonesianvoices.com<\/figcaption><\/figure>\n

JAKARTA, Indonesia\u2014Indonesia\u2019s economy grew at its slowest pace in four years in 2013 because of a slump in commodity prices and a slowdown in consumer spending.<\/p>\n

The Central Statistics Agency said\u00a0Southeast Asia\u2019s largest economy grew 5.8 per cent last year, the first time it has expanded less than 6 per cent since 2009.<\/p>\n

It said fourth quarter growth was 5.7 per cent, slightly above the third quarter\u2019s 5.6 per cent but below 6.1 per cent growth achieved in the October-December period of 2012.<\/p>\n

Indonesia\u2019s growth has been based on high international prices for its abundant natural commodities like coal and palm oil and the spending power of its newly minted middle class.<\/p>\n

But consumer demand has waned due to interest rate hikes aimed at reducing inflation and stabilizing the Indonesian currency.<\/p>\n

Economic protectionism ahead of elections this year and inconsistent policy making are also deterring investors.<\/p>\n

Bank Indonesia, the country\u2019s central bank, will next week hold its monthly meeting to review the benchmark interest rate. It was raised by a cumulative 1.75 percentage points last year to 7.5 per cent by November.<\/p>\n

In a positive sign for the economy, the statistics agency on Monday said the trade balance in December was a surplus of $1.52 billion. Indonesia typically has trade deficits. For the whole of 2013 it had a trade deficit of $4.06 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

JAKARTA, Indonesia\u2014Indonesia\u2019s economy grew at its slowest pace in four years in 2013 because of a slump in commodity prices …<\/p>\n","protected":false},"author":44,"featured_media":1545,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-1511","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-the-associated-press"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/1511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=1511"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/1511\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/1545"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=1511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=1511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=1511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}