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Jakarta Post

Government, House revise down growth target for 2019

  • Anton Hermansyah
    Anton Hermansyah

    The Jakarta Post

Jakarta   /   Wed, June 6, 2018   /   08:19 am
Government, House revise down growth target for 2019 Finance Minister Sri Mulyani Indrawati. (Antara/Sigid Kurniawan)

The government and the House of Representatives agreed on Tuesday to revise the growth target stated in the 2019 draft state budget to the range 5.2 to 5.6 percent from the 5.4 to 5.6 percent stated in the initial draft prepared by the government.

The target was revised during a meeting between House Commission XI overseeing financial and monetary issues and government representatives at the House building in Jakarta

Finance Minister Sri Mulyani Indrawati was even more pessimistic saying that the achieved growth would be at the bottom end of the target, namely 5.2 percent.

The revised target is similar to the growth target set by Bank Indonesia (BI).

BI Governor Perry Warjiyo said the Indonesian economy would still endure a lot of pressure from US policy normalization and the trade dispute between that country and China.

"We will still face global uncertainty in the next few years," he said.

During the meeting, the participants agreed a number of macroeconomic parameters including inflation (2.5 to 4.5 percent), the rupiah exchange against the US dollar (Rp 13,700 to Rp 14,000) three-month treasury yields (4.6 to 5.2 percent), unemployment rate (4.5 to 5.2 percent) and human development index (71.98). (bbn)