Economy gaining steam, economists say cautiously

The government is hoping for 3.53 percent GDP growth this year, higher than its previous forecast of 3.2 percent made in November last year. Credit Suisse said the economy is likely to expand by 3.4 percent this year, but did not expect the strong growth momentum seen last quarter could be sustained.

“We anticipate a more moderate growth pace in the coming quarters, unless the global economy shows stronger signs of improvement,” Tuntono said.