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West Papua Economy Continues to Improve?

The Head of the BI Representative for West Papua, Agus Hartanto, explained that in the first quarter of 2017, the West Papuan economy grew in the range of 3.68 percent, lower than the previous quarter of 4.86 percent.

This is due to the slowdown in all major sectors in West Papua. from the results of the Dissemination of Regional Economic and Financial Studies and the 2017 Quarter I Fiscal Study at Swiss-Belhotel Manokwari.

The slowdown in manufacturing sector performance this quarter was mainly due to lower LNG production

As a result of declining demand from buying countries, such as China and oil and gas prices that have not recovered significantly, he said in the Dissemination of Regional Economic and Financial Studies, as well as the First Quarter Fiscal Study of 2017 at Swiss-Belhotel Manokwari. The activity was held in collaboration with the West Papua Bank Indonesia Representative Office (BI) with the Ministry of Finance of the Republic of Indonesia Regional Office, the Directorate General of Treasury (DJPBN),

West Papua Economy Continues to Improve

Even so, Papua’s economic prospects in the second quarter of 2017, are expected to grow between 4.7 percent to 5.1 percent or with overall growth in 2017, ranging from 4.4 percent to 4.8 percent.

Papua’s economic growth in the second quarter will be supported by high household consumption during the fasting and Eid period, which encourages retail sales.

While inflation in the second quarter is estimated at an interval of 5 percent to 5.4 percent, the potential risk to watch out for is the risk of an imbalance between supply and demand during the fasting and Eid period.

This condition makes the active role of the regional inflation control team more optimized in mitigating existing risks. So that inflation can be more controlled.