North Sumatras economy grows 4.8 percent in first half of 2017

Medan, N Sumatra (ANTARA News) – North Sumatra , a major province of Indonesia, recorded an economic growth of 4.8 percent in the first half of this year.

All sectors recorded a positive growth with the highest recorded in the procurement of electricity and gas, which grew 10.80 in the first half of this year.

The second highest growth was recorded in the real estate growing 9.58 percent and communications sector expanding 9.33 percent, head of the North Sumatra Central Bureau of Statistics (BPS) Syech Suhaimi said here on Monday.

The economic growth of the province, however, fell below the countrys average of 5.01 percent in the January-June period.

Household consumption grew 5.37 percent , Suhaimi said.

The agriculture, forestry and fishery sector is the largest contributor to the province gross domestic product (GDP) accounting for 21.14 percent of regional GDP in the first six months of the year.

Economic observer Wahyu Ario Pratomo said the provincial economic growth could have been higher if the inflation could be lower, but an increase in electricity and drinking water tariffs gave higher inflationary pressure.

Wahyu predicted the economy of North Sumatra would grow stronger in the second half of the year.

Source: Antara News