REPUBLIKA.CO.ID, JAKARTA -- The Asian Development Bank (ADB) has revised its economic growth forecast for Indonesia, scaling it down this year to 4.8 percent from 4.9 percent set previously.

"Soft slowdown is being experienced by Indonesia, Southeast Asia's largest economy, as a result of lower-than-expected budget absorption and slow export performance," according to the supplement to the ADB's year-end report Outlook Update received by Antara on Friday.

The report predicted that the capital expenditure disbursement until the end of 2015 will reach 80-85 percent, slightly limiting the economic growth in the second half of 2015.

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In fact, in the third quarter of 2015, the country's economic growth remained stable at 4.7 percent year-on-year and the government's spending rose significantly by 6.6 percent, year on year, compared to the previous quarter.

In addition, the Indonesian economy has also been supported by investment project expansion, strong household consumption, and positive export contribution.

The report added that the condition of the Indonesian economy will be better in 2016, with economic growth projected at 5.3 percent although it was revised down slightly due to the suspended recovery of the export sector.

The Manila-based bank also predicted the Southeast Asian economy will grow 4.4 percent in 2015 and increase slightly, reaching 4.9 percent in 2016.

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