JAKARTA, Oct. 19 (Xinhua) -- Indonesian Finance Minister Bambang Briidjonegoro said on Monday that the government expected the economy to expand at a faster pace in the third quartr due to a rise in government development budget spending and investment.
Brodjonegoro disclosed that the GDP growth is projected at 4.8 to 5 percent in the July-September quarter, faster than the 4.67 percent of the previous quarter.
"Government spending and consumption may have a bigger contribution" on the acceleration of the growth, he said at the parliament building.
However, the minister said that consumption, which had been the largest contributor on the growth, is forecast to be steady.
In the first quarter, the economy expanded by 4.71 percent, the lowest pace in 6 years, according to the national statistic bureau.
Subdued government development budget spending in the first half amid weakening export was blamed for the weak growth.
Indonesia expects a 5.2 percent growth this year and 5.3 percent next year.
The government has recently unveiled a raft of huge economic stimulus measures aiming to lure investment and speed up economic growth in the Southeast Asia's biggest economy.
Previously, Brodjonegoro said that he expected the government budget spending will be implemented by up to 93 percent by year end.
Previously President Widodo, known as Jokowi, set a target of more than 7 percent economic growth at the end of his 5-year tenure in 2019, by building massive infrastructure facilities.
Ministries of public works, housing and transport are among those to be focused on the disbursement of the budgets, said Brodjonegoro.
President Jokowi has attempted to cut red tape, simplifying process of investment licensing, combating graft and conducting other reforms to lure foreign investment.
