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View all search results6.2% growth, 4% inflation in 2016 budget assumption
In spite of acknowledging the distressed global economic outlook that will severely hit Indonesia's exports next year, the government is upbeat that it can achieve more than 6 percent economic growth
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I
n spite of acknowledging the distressed global economic outlook that will severely hit Indonesia's exports next year, the government is upbeat that it can achieve more than 6 percent economic growth.
According to the finance minister's speech on 2016 fiscal assumptions read out in the House of Representatives' plenary session on Wednesday, the government will aim to achieve economic growth of between 5.8 and 6.2 percent next year.
"The growth will hinge on domestic factors," said Finance Minister Bambang Brodjonegoro in the speech.
Bambang explained that investment, particularly in infrastructure, would help propel growth as well as government public spending and financial transfers to regions.
The government targets achieving more than 5 percent growth this year despite economists' bleak prediction of below 5 percent as indicated by first quarter growth of 4.7 percent.
In his speech, Bambang has also assumed inflation to be around 4 percent, an exchange rate of between Rp 12,800 and Rp 13,200 per US dollar and an interest rate of between 4 and 6 percent.
The House and the government are scheduled to deliberate the 2016 state budget and its assumptions in August (ren)(++++)
