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Indonesia expect 5.0-6.0% growth in 2010: minister

Posted on: May 31, 2009


AFP – Thursday, May 28

JAKARTA (AFP) – – Indonesia expects its economy to expand five to six percent next year as the country prepares a budget that will “focus on economic recovery,” Finance Minister Sri Mulyani Indrawati said Wednesday.

Full-year inflation for Southeast Asia’s biggest economy would likely average 4.5 to 5.5 percent, she told reporters after presenting the ministry’s official macroeconomic forecasts for next year to parliament.

The forecasts are used to calculate the state budget and are updated throughout the year.

The government expects to run a budget deficit equal to 1.3 percent of gross domestic product (GDP) and the rupiah to trade between 9,500 and 10,500 against the dollar, the minister said.

The government expects the economy to expand 4.0 percent to 4.5 percent this year compared to 6.1 percent last year.

This year, the budget deficit is forecast to reach 2.5 percent of GDP, due in part to a 7.1-billion-dollar stimulus spending plan.

— Dow Jones Newswires contributed to this story —

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