Jakarta up­grades its GDP tar­get

China Daily (Hong Kong) - - BUSINESS -

In­done­sia’s gov­ern­ment on Tues­day agreed to re­vise up­ward its eco­nomic growth tar­get this year, due to bet­ter prospects for ex­ports. At a meet­ing on eco­nomic as­sump­tions, the GDP growth tar­get was re­vised to 5.2 per­cent from 5.1 per­cent in the pre­vi­ous re­vi­sion. Chief Eco­nomic Min­is­ter Darmin Na­su­tion said an im­prove­ment in global eco­nomic con­di­tions had helped boost prices and the de­mand for com­modi­ties, which are In­done­sia’s big­gest ex­ports. The meet­ing also agreed on a 4.3 per­cent in­fla­tion tar­get this year, with a 13,400 ru­piah value per US dol­lar. Pres­i­dent Joko Wi­dodo’s ad­min­is­tra­tion has ac­cel­er­ated spend­ing of the coun­try’s de­vel­op­ment bud­get, one of the ma­jor con­trib­u­tors to the coun­try’s eco­nomic growth, for the cur­rent year.

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