Tuesday, April 30, 2013

Indonesia in Figures

Despite a gloomy perspective in the global economy, Indonesia sees its economy in 2013 may grow at 6.5% from the 6.23% of the previous year, supported by strong domestic consumptions and investment. For 2014, as general elections scheduled to take place, the economy may expand at 6.8%.

According to acting finance minister Hatta Rajasa, who also chief economic coordinating minister, the G20 economy's budget deficit this year may wider to almost double -- the initial figure set at 1.65%-- due to hefty fuel subsidy allocation which stood nearly at Rp 300 trillion. 

However, Rajasa believed that the 2013's budget deficit would remain manageable at less than 3% as the government has already committed in adjusting fuel prices on late May. The figure would go down to around 1.5% next year, he noted.

For next year, the minister said inflation could be contained at 4.5% -- lower than this year's target which set at 5%-- and the rupiah possibly be traded at Rp 9,700 a dollar.  

The local exchange, emerging Asia's worst performing currency last year, is seen at 9,600 to 9,800 per dollar, around current levels.

The net oil importer country estimates oil lifting at 840,000 barrels per day this year while next year, it may up to 900,000 to 930,000.

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