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Indonesian economy grows 5.02 per cent

dpa logodpa 6/02/2017

Indonesia's economy grew 5.02 per cent last year, up from the revised 4.88 per cent the previous year, says the country's Central Bureau of Statistics.

The Indonesian economy grew 5.02 per cent in 2016, up from the revised 4.88 per cent the previous year.

The financial industry posted the highest growth last year, at 8.90 per cent, the country's Central Bureau of Statistics said on Monday.

Gross domestic product (GDP) rose 4.94 per cent in the fourth quarter from a year earlier, a contraction of 1.77 per cent from the previous three-month period, the bureau said.

Southeast Asia's largest economy has experienced a slowdown because of sluggish foreign demand for commodities.

President Joko Widodo has introduced a series of measures to speed up infrastructure development, attract investors and protect jobs.

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