Indonesia revises upward GDP growth target this year

BY  | FROM  | 2017-07-12 16:21

The Indonesian government and lawmakers on Tuesday agreed to revise upward economic growth target this year due to a better prospect of exports.
At a meeting over economic assumption, the GDP growth target this year was revised to 5.2 percent from 5.1 percent at the previous revision.
Chief Economic Minister Darmin Nasution said that improvement of global economic condition has helped boost the prices and demand of commodities, the major exported products of Indonesia.
The meeting also agreed on a 4.3 percent inflation target this year with a 13,400 rupiah value per 1 U.S. dollar.
President Joko Widodo's administration has accelerated spending of the country's development budget, one of major contributors to the country's economic growth, for this year.
The Southeast Asia's biggest economy gave a good signal of 5.01 percent growth in the first quarter compared with 4.92 percent growth in the same period last year, according to the national statistics bureau.

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