The Jakarta Post
Indonesia will opt for a “more realistic” economic growth target for the next fiscal year as the country prepares for a prolonged economic crisis in the eurozone and its consequent impact on trade and investment, says Deputy Finance Minister Mahendra Siregar.
Mahendra, who also serves as Indonesia’s G20 sherpa, said that regardless of the progress made by European policy makers, Indonesia would have to assume that the crisis in the bloc of 27 economies would persist.
“We need to make an assumption that the crisis in that region is long term so that we can avoid being trapped in the uncertainties of European economic development,” Mahendra told reporters.
He said that based on ongoing discussions with the House of Representatives, the government was likely to set a 6.8 percent economic growth level in the 2013 state budget.
“The initial target was s...