Sunday, August 20, 2017 - 3:14:24

Indonesian economy to grow 5.3-5.7 percent next year

VNA Print

Illustrative image (Photo: AFP/VNA).
Jakarta (VNA) – Indonesia’s economy will grow by 5.3-5.7 percent in 2017 thanks to the global economy’s recovery, predicted Finance Ministry Bambang Brodjonegoro.

The minister said that the realisation of infrastructure projects and the success in maintaining the purchasing power will contribute to the economic growth.

He added that to address economic challenges, the Indonesian Government is seeking measures to build a healthy and sustainable fiscal policy system through the improvement of productivity of the state budget and efficiency in budget allocation, and strengthening fiscal resistance.

The strategy to maintain fiscal sustainability is by controlling budget deficit at 1.9-2.5 percent of the GDP through optimisation of revenues and efficiency in spending and by maintaining healthy debt ratio at 26 percent of GDP, by controlling spending of loan funds and primary balance, he said.

Indonesia’s economy grew 4.8 percent last year.

The World Bank forecast its GDP growth of 5.1 percent for 2016, and 5.3 percent for 2017.-VNA
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