Indonesian central bank forecasts growth to reach 6.5% in 2011

19:47, June 02, 2010      

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Indonesia's economic growth is estimated to reach 6.5 percent in 2011, slightly higher than the target initially set by the government at 6.4 percent, the acting Indonesian Central Bank (BI) Governor Darmin Nasution said on Wednesday.

"Based on several assumptions, Indonesia's economic growth will reach between 6.0 to 6.5 percent. The growth target set by the government at a range of 6.2 6.4 percent is still realistic as it is still in BI's range," Darmin was quoted by the Detik. com as saying during a hearing with legislators at the parliament.

The government's growth target was initially set as the base to draft the state budget for 2011.

With the improving external factor, increasing consumptions, investment and demands at home, Darmin pointed out that in general Indonesia's economic growth in 2011 would be higher than in 2010.

Darmin said that the global economic recovery is shadowed by the ongoing European financial problem started by Greek bond crisis.

Citing to the data from 2010 World Economic Outlook issued by the International Monetary Fund (IMF) in April this year, Darmin said that world's economic growth would reach 4.2 percent in 2010 and 4.3 percent in 2011.

"World Bank had also altered its growth estimates from 2.8 percent to 3.5 percent this year and 4.0 percent in 2011," Darmin said.

The improving global economic growth prospect would positively influenced domestic economy as exports are expected to increase in 2010 and 2011.

"The increasing export phenomenon was evident in Q1 national export figure that grew 19.6 percent compared to it was in the corresponding period last year," Darmin said.

Source: Xinhua


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