JAKARTA, Nov. 1 (Xinhua) -- Indonesia's Finance Minister Sri Mulyani Indrawati has estimated that the nation may see around 5.05 percent economic growth in the third quarter this year, on the back of consumption and investment sectors whose growth may equally hover above 5 percent during the period.
"Even we have seen a bit improvement. The growth's toughest challenge in the period may still come from exports due to external pressures. We are upbeat to see above 5 percent, and this may approach 5.05 percent like the one initially estimated by the Fiscal Policy Agency," the minister said at her office on Friday, referring to the Fiscal Policy Agency at her ministry.
The estimated figure for the third quarter was equal to the actual growth figure in the previous quarter, but lower than 5.07 percent posted in the first quarter.
The combined growth in the first and second quarters have led to 5.06 percent growth secured by the nation in the first half of this year.
Inflation was estimated to perch at controllable range, around the target set earlier this year, the minister said.
"Inflation remains at the range, all growth components were indicated at comfortable levels. Inflation contributors were also in the expected range. So there will be no surprise (from inflation in the third quarter)," she added.
In the first 10 months of this year, the nation recorded 2.22 percent inflation, while the year-on-year figure as of October was recorded at 3.13 percent.
Amid continuing external pressures from the ensuing global economy downturns, Indonesia has set GDP growth target at 5.3 percent equally for this year and next year.
Those targets are a bit higher than international financial agencies' projections.
The Asian Development Bank (ADB) estimated that Indonesia's growth may reach 5.1 percent and 5.2 percent for this year and next year.
Meanwhile, the International Monetary Fund (IMF) has revised its Indonesia's growth estimation for this year to 5 percent from the previous 5.2 percent.
The World Bank (WB) has also slashed its growth estimation from 5.1 percent to 5 percent for Indonesia.
