JAKARTA : Indonesia expects rising exports and a recovery in household consumption to result in economic growth of 4.5per cent in the third quarter, refining an earlier forecast for 4-5per cent growth, but headwinds lie ahead, its finance minister warned on Monday.
Exports from Indonesia, the world's biggest exporter of thermal coal and palm oil, have also surged amid record high prices. The minister also gave a new official forecast for 2021 full-year growth of 4per cent, compared with a previous forecast of 3.7per cent to 4.5per cent. "In the fourth quarter, there remains potential for a rebound, although at a more normal rate. But the rebalancing of economic activities in China, the United States and the European Union could affect us in the fourth quarter and into next year," Sri Mulyani said.
Boom time for Indonesia, China purchases of Indonesia coal has stepped up.
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