Bali`s economy grows faster than national average
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Balis economy grew 6.17 percent in the third quarter of this year, exceeding the national average growth of 5.02 percent year-on-year in the third quarter of this year.
“The growth, however, was slowed than 6.54 percent in the previous quarter,” head of the Bali representative office of Bank Indonesia Causa Iman Karana said here on Saturday.
Iman Karana attributed the slower growth in the third quarter of this year to poor performance in government, non profit agency and household consumption, and investment, as well as in construction and in mining sector.
Decline was also recorded in the procurement of electricity, gas and water, in whole sale and retail trade, in information , communication , financial and health services, he said.
Iman Karana predicted that in the fourth quarter of this year Balis economy would grow 6.06-6.46 percent.
The tourism sector is expected to grow in the last quarter of this year especially toward the end of the year.
Winter in Europe would cause more holiday makers from that continent to visit Bali.
Questions & Answers
Q.What was the growth rate of Bali's economy in the previous quarter?
What was the growth rate of Bali's economy in the previous quarter?
Bali's economic growth in the previous quarter was 6.54 percent. This rate was higher than the 6.17 percent recorded in the third quarter of this year, indicating a slight slowdown in recent economic activity.
Q.Which sectors contributed to the slower economic growth in Bali during the third quarter?
Which sectors contributed to the slower economic growth in Bali during the third quarter?
The slower growth in Bali's economy was attributed to poor performance in government, non-profit agencies, and household consumption. Investment, construction, mining, and several service sectors also experienced declines.
Q.What is the economic growth forecast for Bali in the fourth quarter of this year?
What is the economic growth forecast for Bali in the fourth quarter of this year?
Bank Indonesia predicts Bali's economy will grow between 6.06 percent and 6.46 percent in the fourth quarter of this year. This forecast suggests a similar or slightly higher growth trajectory compared to the third quarter.
Q.Why is the tourism sector expected to grow in Bali towards the end of the year?
Why is the tourism sector expected to grow in Bali towards the end of the year?
The tourism sector is expected to grow towards the end of the year due to the winter season in Europe. This weather encourages more holidaymakers from that continent to visit Bali, boosting the local economy.
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