blog.indahnesia.com - Discover Indonesia Online

    
You are currently in > Just a blog about Indonesia > Indonesia to lower economic growth target


Indonesia to lower economic growth target JAKARTA - Indonesia will revise downward its growth target for the 2012 budget from 6.7 percent to 6.5 percent, Finance Minister Agus Martowardojo has said.

"We will adjust our economic growth down to 6.5 percent," the minister said in Jakarta on Monday. He noted that the government would ask for the revision of the growth target through the 2012 budget in a plenary meeting of the House of Representatives on Tuesday.

The government is certain to change macro assumptions in the revised budget, such as for the Indonesian Crude Price from US$90 to US$105 per barrel and oil lifting from 950,000 barrels per day to 910,000 to 940,000 barrels per day, the minister said.

The rate of inflation initially set at 5.3 percent will be adjusted to 6.0 to 7.0 percent, while the rupiah exchange rate against the US dollar will change from Rp8,800 to Rp8,800 to Rp9,000.

Meanwhile, it has been predicted that the rate of the three-month Bank Indonesia Certificate (SBI) will not change from the present assumption at 6.0 percent, Martowardojo said.

The acting head of the Indonesian Finance Ministry`s fiscal policy department, Bambang Brodjonegoro, however, said that the growth target for this year would not change much from the present assumption. "We are still within a 6.5 and 6.7 percent range. If a slowdown does occur, it will not be as deep as in 2009," he said.

He believed the ICP assumption would be above US$100 while the rate of inflation was assumed to be at 6.0 to 7.0 percent, and the three-month SBI would remain at 6.0 percent. "Even now the rate of state bonds (SPN) has been very low, while its supply is limited. So, it will not be affected," Brodjonegoro said referring to the SBI rate.

About the drop in the rupiah exchange rate to Rp8,900 against the US dollar, Brodjonegoro noted that the assumption would support the business climate and trade transactions .

"From the economic point of view, we have seen how the rupiah exchange rate of Rp9,000 per US dollar has helped in the balance of payment. We have seen that the trade balance had declined a bit, but it remained positive, although exports slowed down. We hope the present rate would be more friendly for businesses," he said.

On the possibility for the budget to expand to 2.2 percent from 1.5 percent, he said it could be a result of the rise in Indonesian Crude Price to US$120 per barrel and the uncertainty with regard to the government`s decision to raise the price of gasoline. "So, if the fuel oil policy could reduce the deviation, perhaps the deficit would not expand too far away from the existing one," he said.

Addressing the issue of the proposed electricity price hike of 10 percent in April, he said the government remained consistent with the 2012 budget law. "We will not move away from the government's proposal put in the 2012 budget, namely 10 percent. It is only about when it would be implemented and to what extent, which is still to be determined by the House of Representatives," he said.


Related blog entries (category 'Economy') Related blog entries (category 'Economy'):
01 March 2012 · Yudhoyono hopes industrialization can be sped up
29 February 2012 · Hundreds of ex-PTDI employees migrate to Malaysia
27 February 2012 · Minister: Ideal fuel price hike 1000 to 1500 rupiah'
25 February 2012 · Indonesia to reduce poverty rate to 4 or 5 percent by 2025
24 February 2012 · Indonesia to discuss fuel subsidy reduction ideas
23 February 2012 · Bali full of illegal money changers

Related blog entries (category 'Economy') Tags: economic, growth, target, lowered


Posted in Economy @ 07 March 2012 14:16 CET by Blog Bot · 'Blog' RSS feed · permalink






There are no reactions on this blog entry yet. Be the first one to give a reaction here!


Log in to write a reaction

You are not logged in to the website. You have to be logged in to write a reaction on this blog entry.

· If you already have an account, please login.
· If you have lost your password, please retrieve it.
· If you don't have an account yet, you can create one.

    
 ABOUT THIS ENTRY
Add this blog entry to your email, your own blog, MySpace, Facebook, or whatsoever via AddThis:
Bookmark and Share

e-mail updates for this blog article

Login if you want to receive emails for reactions on this blog entry. You will receive an update as soon as a reaction on this blog entry is posted.

Your website for tickets in Indonesia!
Looking for e-tickets for flights in Indonesia? Here's your solution! Order your e-tickets at ticketindonesia.info.
 FOLLOW US ON TWITTER
 BLOG ARCHIVE
· 2015, 28 entries
· 2014, 591 entries
· 2013, 750 entries
· 2012, 1061 entries
· 2011, 792 entries
· 2010, 644 entries
· 2009, 916 entries
· 2008, 504 entries
· 2007, 725 entries
· 2006, 1014 entries
· 2005, 723 entries
· 2004, 558 entries
· 2003, 525 entries
· 2002, 375 entries
· 2001, 162 entries
 POPULAR TAGS
· gigolo
· jakarta
· blogger
Automatically generated every hour
 BLOG CATEGORIES
· General (1205 entries)
· Economy (643 entries)
· Politics (574 entries)
· Accidents (561 entries)
· Terrorism (541 entries)
· Earthquake (539 entries)
· Volcanoes (387 entries)
· Crime (357 entries)
· Corruption (349 entries)
· Flooding (278 entries)
· Elections (276 entries)
· Travel (268 entries)
· Bird Flu (254 entries)
· Religion (242 entries)
· Tourism (239 entries)
· Oddly enough ... (219 entries)
· Violence (198 entries)
· Drugs (196 entries)
· Health (192 entries)
· Aceh conflict (191 entries)
· Environment (185 entries)
· Weather (171 entries)
· Military (168 entries)
· Protests (157 entries)
· Culture (106 entries)
· Garuda Indonesia (91 entries)
· C. Sulawesi conflict (86 entries)
· Human rights (82 entries)
· Forest fires (78 entries)
· Sidoarjo mudflow (71 entries)
· Power supply (64 entries)
· Ramadan (63 entries)
· PT Freeport (55 entries)
· Picture guess (48 entries)
· Maluku conflict (47 entries)
· Dengue Fever (37 entries)
· History (37 entries)
· Infrastructure (36 entries)
· Polio (35 entries)
· Mexican flu (35 entries)
· Website (25 entries)
· Media (22 entries)
· Nuclear power (21 entries)
· Sports (20 entries)
· Sexy (16 entries)
· SARS (15 entries)
· Nightlife (10 entries)
· Others (5 entries)
· Lippo Cikarang (5 entries)
· Close smallest categories
 EXCHANGE RATES
EUR-IDR: 16,590 · 16,620  The Rupiah rate declined since yesterday
@ 17 May 2018 18:12 CET
JPY-IDR: 126.83 · 126.95  The Rupiah rate improved since yesterday
@ 17 May 2018 21:58 CET
MYR-IDR: 3,545 · 3,549  The Rupiah rate declined since yesterday
@ 15 May 2018 08:42 CET
SGD-IDR: 10,479 · 10,501  The Rupiah rate declined since yesterday
@ 07 May 2018 07:48 CET
THB-IDR: 439.14 · 439.41  The Rupiah rate declined since yesterday
@ 16 May 2018 09:18 CET
USD-IDR: 14,097 · 14,157  The Rupiah rate declined since yesterday
@ 17 May 2018 00:46 CET
Go to 'exchange rates' 
 MOST RECENT REACTIONS
·  At 20 September 2018 06:54 erik12 reacted on Fuel prices lowered, again
·  At 19 October 2015 17:17 imambudianto5 reacted on Bank Indonesia maintains benchmark interest rate at 7.75%
·  At 04 March 2015 19:18 merdekaSah reacted on Alleged terrorists shot dead three villagers in Poso
·  At 04 March 2015 13:11 Yogya-Bali reacted on Alleged terrorists shot dead three villagers in Poso
·  At 26 February 2015 13:02 Irena reacted on Sexy, a young woman with candy
·  At 08 May 2014 09:51 jstar reacted on No alcohol should be sold in warung
·  At 01 May 2014 10:07 jstar reacted on Indonesia to be among the top 10 peacekeeping contributors
·  At 27 March 2014 05:50 harlys reacted on PPP leader voices concern over Islamic parties' future
·  At 10 March 2014 06:11 Yogya-Bali reacted on Sriwijaya Air leaves behind 200 passengers at airport
·  At 09 March 2014 00:11 Yerun reacted on Sriwijaya Air leaves behind 200 passengers at airport
·  At 08 March 2014 20:33 nicknick reacted on Sriwijaya Air leaves behind 200 passengers at airport
·  At 18 February 2014 04:17 Yerun reacted on Ash from Mount Kelud eruption spreads over all of Java
·  At 16 February 2014 05:41 Amed East Bali reacted on Ash from Mount Kelud eruption spreads over all of Java
·  At 14 February 2014 22:27 Anne Mieke reacted on Asylum seekers in Medan wish to be sent to Australia
·  At 14 February 2014 22:22 beritaislam reacted on Asylum seekers in Medan wish to be sent to Australia
·  At 16 January 2014 15:37 Anne Mieke reacted on Landslides cut off Tomohon-Manado road
·  At 16 January 2014 15:21 Yerun reacted on Landslides cut off Tomohon-Manado road
·  At 16 January 2014 15:05 Anne Mieke reacted on Landslides cut off Tomohon-Manado road
·  At 16 January 2014 14:48 Yerun reacted on Landslides cut off Tomohon-Manado road
·  At 16 January 2014 14:41 Yerun reacted on Landslides cut off Tomohon-Manado road
Go to 'forum topics' 

Created by indahnesia.com · feedback & contact · © 2000-2019
Other websites by indahnesia.com: ticketindonesia.info · kamus-online.com · indonesiepagina.nl · suvono.nl

Valid HTML 4.01 Transitional 125,528,131 pageviews Discover Indonesia Online at indahnesia.com