World Bank revises down Indonesia's 2017 GDP growth target to 5.1 pct

The World Bank projected Indonesian economy to expand 5.1 percent this year, lower than its estimate in June of 5.2 percent, the lender said in its website on Tuesday.

Supportive global economy and stronger domestic demand amid continuing reform contribute to the economic expansion.

The bank said it is critical to maintain reform momentum as gaps in physical and human capital, and institutional quality are still significant.

For next year, the World Bank expects Indonesia's economy to grow 5.3 percent.

The World Bank also noted Indonesian central bank rate cut by 50 basis points to 4.25 percent in August and September, which factors to the growth projection.

The Southeast Asia biggest economy grew 5.02 percent last year, according to the national statistics bureau.

Indonesia is the world's largest exporter of thermal coal, crude palm oil, and the world's third largest exporter of cocoa and rubber, as well as home to the world's second-biggest copper mine.

The statistics bureau announced on Monday that core in