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Government Predicts 6.4% Growth in 2013

Coordinating Economic Minister Hatta Rajasa said Indonesia’s economy was expected to grow only within a 6.4 percent range this year due to ongoing weakness in the global economy.

“We have to be realistic in observing the global economy, which is still showing uncertainty, while at the same time, we have to make some adjustments in our revised state budget,” said Hatta in Jakarta, on Monday evening, as quoted by Antara news agency.

The 2013 state budget set a 6.8 percent economic growth target.

The Central Statistics Agency (BPS) said in Jakarta on Monday that Indonesia’s gross domestic product (GDP) increased 6.02 percent in the first quarter of 2013 from the same period last year, Bloomberg reported.

Hatta said the country’s economy grew at a slower pace compared to 2012 due to poor government spending. The household consumption sector still showed improvements, however, he said.

“Compared to 2012, Indonesia’s economy grew at a slower rate; but, we are still optimistic that in the next quarter, it will improve,” said Hatta.

The agency’s deputy chairman for balance and statistics analysis, Suhariyanto, said the 6.02 percent GDP growth in the first quarter of this year was relatively good.

“Compared to other countries that are still experiencing an economic slowdown, we are doing relatively well,” he said.

Source : thejakarpost.com