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Jakarta Post

Bank Indonesia raises GDP forecast to 5.6% this year

  • Aditya Suharmoko

    The Jakarta Post

Jakarta   /   Tue, March 9 2010   /  10:37 am

The central bank is more upbeat on Indonesia’s economy this year, raising its economic growth forecast to 5.6 percent from 5.2 percent — in line with the government’s estimate of 5.5 percent.The growth forecast for quarter one was raised to 5.7 percent from 4.8 percent, Bank Indonesia (BI) Deputy Governor Hartadi A. Sarwono said in an email to Bloomberg.Analysts have said Indonesia’s economy may expand closer to 6 percent this year on stronger trade and investment.“We have nudged our growth forecast slightly higher to 5.8 percent in 2010 and 6.2 percent in 2011 with a strong export outlook, and an expected revival of investment; although political heat over the Century bailout presents a downside risk,” Citi analyst Johanna Chua said in a statement last week.Analysts and businesspeople said politics might distract the government from focusing on economic growth. Lawmakers vot...