{
    "success": true,
    "data": {
        "id": 1468696,
        "msgid": "citibank-predicts-gdp-to-grow-by-48-1447893297",
        "date": "2004-02-11 00:00:00",
        "title": "Citibank predicts GDP to grow by 4.8%",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Citibank predicts GDP to grow by 4.8% P.C. Naommy, The Jakarta Post, Jakarta Citibank predicts the country's economy to grow by around 4.8 percent this year in line with the government's projection. The bank's economist in Indonesia Anton Gunawan said that domestic consumption would continue to become the main driver of the economy, contributing around 70 percent to gross domestic product.",
        "content": "<p>Citibank predicts GDP to grow by 4.8%<\/p>\n<p>P.C. Naommy, The Jakarta Post, Jakarta<\/p>\n<p>Citibank predicts the country's economy to grow by around 4.8<br>\npercent this year in line with the government's projection.<\/p>\n<p>The bank's economist in Indonesia Anton Gunawan said that<br>\ndomestic consumption would continue to become the main driver of<br>\nthe economy, contributing around 70 percent to gross domestic<br>\nproduct.<\/p>\n<p>Speaking at a seminar on the economy, Anton said that<br>\nhousehold consumption would grow by 5.4 percent in 2004 from last<br>\nyear's 4.7 percent.<\/p>\n<p>He explained that the favorable macroeconomic climate<br>\nparticularly the current declining trend in domestic interest<br>\nrate would help push consumer spending even higher.<\/p>\n<p>Citibank predicts the Bank Indonesia benchmark interest rate<br>\nto continue to decline this year.<\/p>\n<p>Anton added that the consumption growth would also be<br>\nsupported by increasing trend of real wages in the manufacturing<br>\nand agriculture sectors, thanks to a relatively benign inflation<br>\nlevel.<\/p>\n<p>But Anton said that investment would likely slowdown this year<br>\namong others due to the general elections.<\/p>\n<p>According to data from the Investment Coordinating Board<br>\n(BKPM), approved domestic investment increased by 92.17 percent<br>\nfrom Rp 25.2 trillion in 2002 to Rp 48.5 trillion in 2003.<br>\nApproved foreign direct investment (FDI) has remained marginal<br>\nwith an increase of only 34.83 percent from US$9,795.4 million in<br>\n2002 to $13.207 million in 2003.  Some analysts have said that<br>\nthe increase in the FDI figure was largely attributed to a switch<br>\nin existing domestic investment into foreign investment schemes<br>\nfollowing acquisition moves.<\/p>\n<p>Analysts have said that attracting more investments and<br>\nboosting exports are crucial for the country to be able to enjoy<br>\na higher economic growth of between 6-7 percent, needed to create<br>\nenough jobs for the millions of unemployed people.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/citibank-predicts-gdp-to-grow-by-48-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}