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Government Predicts 6.4% Growth in 2013

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

a�?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,a�? 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 Indonesiaa��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 countrya��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.

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

The agencya��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.

a�?Compared to other countries that are still experiencing an economic slowdown, we are doing relatively well,a�? he said.

Source : thejakarpost.com