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KADIN forecasts five percent economic growth for Indonesia

Medan, North Sumatra (ANTARA News) – The Indonesian Chamber of Commerce and Industry (Kadin) has forecast an economic growth rate of around five percent for Indonesia this year.

“It will be great if we achieve five percent growth because the national economy is still disturbed. As of now, the country’s economic growth is still between 4.7 and 4.8 percent,” the KADIN chairman, Suryo Sulisto, said here on Saturday.

He made these remarks after a meeting with officials of Kadin for North Sumatra to discuss the state of economy amid the ongoing global economic downturn.

Sulisto said the economic slowdown has been caused by the global crisis that discouraged demand and lowered commodity prices and people’s purchasing power.

The depreciation of the rupiah against the US dollar is also an important factor that has affected the national economic development. In order to boost economic growth, the government needs to take many steps and put in place policies that support the economy, such as accelerating and increasing state expenditure.

Once various projects are implemented, several drivers would work towards boosting the economic growth.

“With these steps, the economic growth target, which has been revised down to 5.2 percent, is expected to be achieved,” Sulisto said.

Sulisto had earlier stated that synergy among associations plays an important role in countering the slowdown in economic growth.

“Integration among associations is necessary so that they work for their interests. Such integration will help the nation’s economy,” Sulisto said recently.

According to Sulisto, a business association should help in building good relations between small entrepreneurs and large businesses.

“In Japan, the integration of the interests of small and medium enterprises is represented by large companies with the help of business associations,” he pointed out.

Associations should be integrated to define their goals and interests as part of the efforts to usher in economic prosperity.

He urged the entrepreneurs to work towards a better economy as it would help enhance the welfare of the people.

“Indonesian businesses should act as the drivers of the nation to create prosperity in trade and industry,” he affirmed.

Meanwhile, the Vice Chairman of the Indonesian Chamber of Commerce and Industry, Noke Kiroyan, remarked that an association can improve the performance of its members by ensuring a conducive business climate, creating opportunities and developing their businesses.

Therefore, an association is expected to initiate, facilitate and increase business transactions.

“If all associations can carry out these functions, business activities and economic growth will increase,” he emphasized.

Source: www.antaranews.com, Saturday 19 September 2015