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Indonesia adjusts economic growth target to 5.5 percent

The Indonesian Government will adjust its economic growth target to 5.5 percent from 6 percent for 2014, as the country’s growth stood at 5.2 percent in the first quarter of this year, according to Finance Minister Chatib Basri.
The Indonesian Government will adjust its economic growth target to 5.5percent from 6 percent for 2014, as the country’s growth stood at 5.2percent in the first quarter of this year, according to Finance MinisterChatib Basri.

The minister said the country’s economy is expected to be higher in the second quarter thanks to improved export situation.

Hesaid a number of other micro-economic perspectives stated in thecountry’s 2014 budget plan will also be adjusted, as its target in oilproduction this year is likely to fail.

However, theinflation rate may remain at 5.5 percent, while the rupiah/USD exchangerate will not much different from the Indonesian Government’s forecastof 11.5 rupiah/USD.

Meanwhile, in a recent pressconference on Indonesian economic outlook in Jakarta, the InternationalMonetary Fund (IMF) said the Indonesian economic growth will increaseto 5.8-6 percent next year after obtaining a 5.4 percent-rise this year.

Indonesia’s economy, Southeast Asia’s largest andamong the world’s top 10, has been suffering from weak exports, whichcontribute more than 20 percent to the country’s GDP, he added.-VNA
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