Samarinda, E Kalimantan (Antaranews Kaltim) - East Kalimantan, one of the country`s richest in natural resources, is predicted to chalk up only an economic growth of 3-3.4 percent.
The growth is higher than last year but much lower than the country`s economic growth , which is estimated to be more than 5 percent this year, head of Bank Indonesia`s representative office in Samarinda Muhammad Nur said.
"The growth recorded by East Kalimantan is in line with the national economic improvement," Muhammad Nur said here on Tuesday.
The economic growth was driven by commodity price hikes since late last year mainly coal. East Kalimantan`s economy is more export oriented .
According to data at the Mineral and Coal Directorate General, the coal benchmark price surged 35.6 percent in 2017 compared with in 2016.
"The World Bank predicted that there would be normalization in commodity prices in 2018," Muhammad Nur said.
He said East Kalimantan may no longer relies only on the mining sector, adding the province has to be serious in planning economic transformation by relying more on renewable economic resources.
Currently the economy of East Kalimantan is still dominated by the mining sector with 46 percent share followed by the manufacturing industry 19 percent and farming 8 percent. (*)
COPYRIGHT © ANTARA News Kalimantan Timur 2017
The growth is higher than last year but much lower than the country`s economic growth , which is estimated to be more than 5 percent this year, head of Bank Indonesia`s representative office in Samarinda Muhammad Nur said.
"The growth recorded by East Kalimantan is in line with the national economic improvement," Muhammad Nur said here on Tuesday.
The economic growth was driven by commodity price hikes since late last year mainly coal. East Kalimantan`s economy is more export oriented .
According to data at the Mineral and Coal Directorate General, the coal benchmark price surged 35.6 percent in 2017 compared with in 2016.
"The World Bank predicted that there would be normalization in commodity prices in 2018," Muhammad Nur said.
He said East Kalimantan may no longer relies only on the mining sector, adding the province has to be serious in planning economic transformation by relying more on renewable economic resources.
Currently the economy of East Kalimantan is still dominated by the mining sector with 46 percent share followed by the manufacturing industry 19 percent and farming 8 percent. (*)
Editor : Didik Kusbiantoro
COPYRIGHT © ANTARA News Kalimantan Timur 2017