The World Bank released the January 2017 edition of its Indonesia Economic Quarterly (IEQ), titled "Sustaining Reform Momentum", on Tuesday (17/01). In this report the Washington-based institution says Indonesia’s reforms to fiscal policy and the investment climate are expected to boost the local economy. Therefore, the World Bank maintains its economic growth rate for Indonesia in 2017 at 5.3 percent (y/y). However, it also emphasizes that Indonesia - like the rest of the international community - is also plagued by uncertainty in global economic policy and global financial market volatility.

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Nusantara Tropical Farm, a Sumatra-based producer and exporter of tropical fruit in Indonesia, targets to export 1.8 million boxes of Cavendish bananas in 2017. This would be a 58 percent year-on-year (y/y) growth compared to 1.14 million boxes of exported Cavendish bananas (equal to 15,400 tons) in the preceding year. Nusantara Tropical Farm, the largest grower of Cavendish bananas in Indonesia, is part of the Gunung Sewu Group. This group operates diversified businesses in insurance, food, real estate, consumer and mining.

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Automotive manufacturer Toyota Motor Corporation already realized 70 percent of its total of IDR 20 trillion (approx. USD $15 billion) worth of investment commitments in Indonesia. Japan-based Toyota will materialize its investment commitments gradually up to 2019. Warih Andang Tjahjono, Vice President Director at Toyota Motor Manufacturing Indonesia (TMMI), said his company invested IDR 10 trillion in late-2016, both in the form of a capital injection and for additional production facilities.

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Indonesian low-budget airline Lion Air targets to see a 15 percent year-on-year (y/y) increase in air passengers to 38.25 million in 2017, from 33.26 million passengers that were carried by the airline in the preceding year. Daniel Putut, Director for Business Development at the Lion Air Group, said the airline will need to achieve this target without expanding its fleet size, which currently numbers 113 units. Lion Air, founded by Rusdi Kirana, is one of the biggest airlines of Indonesia, dominating the low-budget segment.

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