Indonesia’s economy probably grew by more than 6 percent for a sixth quarter as the lowest interest rates in three years spurred spending on homes and cars. Southeast Asia’s biggest economy expanded 6.2 percent in the three months to March 31 from a year earlier, about matching the 6.25 percent expansion in the preceding period, according to the median forecast of 17 economists in a Bloomberg News survey. The Central Statistics Bureau will release the data in Jakarta today.

Private consumption, which accounts for about 70 percent of the economy, is likely to cool amid plans by the government to raise fuel prices by as much as 30 percent to ease a subsidy bill estimated at about 14 percent of total revenue. Spending may also drop after Bank Indonesia raised borrowing costs for the first time in more than two years to tame the fastest inflation in 19 months.

JAKARTA Middle East investors plan to spend about two billion euro on projects in Indonesia, Bisnis Indonesia newspaper reported, citing President Susilo Bambang Yudhoyono. Emaar Properties PJSC, Pacific Inter-Link Sdn Bhd, Al Ghurair Group, Ras Al Khaimah and Limitless LLC are among the investors planning to enter Indonesia, Bisnis said.

The planned projects include a tourist resort, an oil palm plantation, an oil refinery, a port, a railway and properties, according to the newspaper. The fast-growing South Asian country is trying to attract foreign investments. At the same time Gulf countries flush with record oil revenues are increasingly looking abroad to invest.