Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Economy in brief: Govt revises down GDP growth forecast

  • The Jakarta Post

    The Jakarta Post

Jakarta   /   Tue, June 23, 2015   /  09:19 am

The government has revised the country'€™s economic growth projection in the 2016 state budget, indicative of macro assumptions, to between 5.5 and 6 percent from between 5.8 and 6.2 percent previously.

Finance Minister Bambang Brodjonegoro said that the revision was based on next year'€™s economic prospects and the weak economic growth this year.

Because of a persistent decline in exports, the World Bank and the International Monetary Fund (IMF) had revised down their forecasts on Indonesia'€™s economy to a growth rate of 4.7 percent this year from their previous estimate of 5.2 percent.

The two financial organizations estimated the Indonesian economy, which grew 4.7 percent in the first quarter, the lowest since 2009, would remain weak until the end of the year.

Bambang is optimistic that Indonesia'€™s economic growth will reach 6 percent, the upper level of the government'€™s forecast.

'€œThe IMF still predicts that global economic growth will hit 3.8 percent next year. It is better than the current growth that only hits 3.3 percent and the 2014 growth that revolves at 3.3 to 3.4 percent,'€ Bambang said.

Your premium period will expire in 0 day(s)

close x
This article is premium content

Renew your subscription to get unlimited access