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Wednesday, September 8, 2010

Indonesia`s economic growth rate may exceed six percent

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(ANTARA News - Djakarta News) - The Indonesian economy could record a growth rate of over six percent in the third quarter of 2010 on the back of government and household spending, the national statistics agency said.


"It could be over six percent stimulated by government and the public`s expenditures," Rusman Heriawan, head of the Central Bureau of Statistics (BPS), said here Monday evening.

The Ramadhan fasting month and Idul Fitri Islamic festivity would be significantly contributing to economic growth as household consumption would rise significantly during the season.

Government expenditures in the first and second quarters usually contribute negatively to growth but in the third and fourth quarters it would be different.

He said the 2010 budget was bigger than the previous year`s. Although government expenditures in the first and second quarters were low, they were expected to increase in the third and fourth quarters, Rusman said.

The country`s exports would also contribute to growth, despite a slowing down in July 2010. August`s export figure was expected to be another big boost.

Meanwhile, Finance Minister Agus Martowardojo said the government had not yet
revised the economic growth target in the 2010 State Budget.

The economic growth target in the 2010 State Budget was set at 5.8 percent but in the second quarter actual growth was recorded at 6.2 percent and in the first quarter at 5.9 percent.

Agus said he was optimistic national economic growth this year would exceed 5.9 percent.


Source: antaranews.com

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