Indonesia's economy forecast to grow at 7.7% in 2014

17:04, July 23, 2010      

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The Indonesian government forecast that the economy will growth at 7.7 percent in 2014, supported by strong consumption, export and investment, local media reported here Friday.

Coordinating Minister for Economy Hatta Rajasa was quoted by Bisnis Indonesia as saying that consumption is forecast to grow from 5.2 percent this year to 5.4 percent in 2014, export from 6.4 percent in 2010 to 15.6 percent in the next four years and investment from 7.2 percent this year to 12.1 percent in 2014.

"We target the economic grow at between 7 percent to 7.7 percent in 2014," said Hatta.

The minister said that the deficit of the state budget will decrease from 2.1 percent this year to 1.2 percent in 2014.

The government has started to gradually reduce hefty subsidy, such as rising energy price and plan to reduce energy subsidy for rich people, which has burdened the state budget.

Indonesia's economy grew at 5.7 percent in the first quarter and is forecast to grow at 5.8 percent this year and 6.4 percent next year.

An analyst from Central of Information and Development Studies, Umar Juoro, said that the target of growth was pessimistic, as the economy has been supported by conducive of market, while another analyst from Danareksa Purbaya Yudhi Sadewa said that the target was realistic based on the government action plan.

Source:Xinhua

(Editor:黄蓓蓓)

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