Indonesia gains positive factors to reach 6.5-6.9% economic growth

16:54, June 01, 2011      

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Indonesia is gaining positive factors to reach 6.5-6.9 percent economic growth but in the same time facing challenges from the world's rising oil and food prices, an official said in Jakarta on Wednesday.

Vice Finance Minister Anny Ratnawati told a parliamentary hearing that the 6.5 percent economic growth in the first quarter of 2011 would be a positive factor in gaining robust full year- growth.

"Even though we are facing hard times in international level, domestically we are optimistic as we booked a 6.5 percent economic- growth in the first quarter 2011 from 5.6 percent in the same period last year," said Ratnawati.

She said that the expected positive growth would be sourced from rising government and public consumption, increasing investment and good development in export and import.

In the meantime, she said, Indonesian currency of rupiah has been stable in the last few months.

"As of end April, rupiah tends to strengthen to 8,840 per U.S. dollar," she said, "In ASEAN, Indonesian bourse is one of the best. " Inflation stays under control, she added.

"In fact, in March and April, we experienced deflation due to decreasing rice price," she said.

She also said that export development runs well and inflowing foreign capital shows that Indonesia is regarded more important.

"Investment on portfolio and foreign direct investment in April 2011 has reached 113.8 billion dollars," she said.

Overall, she said, for 2012, the government has set economic growth of 6.5-6.9 percent, inflation of 3.5-5.5 percent, foreign exchange of 9,000-9,300 rupiah per U.S. dollar, State Treasury Bond rate of 5.5-7.5 percent, Indonesia's crude oil price of 75-95 dollars per barrel and oil lifting of 950-970 barrels per day.

Source: Xinhua
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