The Indonesian Government will adjust its economic growth target to 5.5 percent from 6 percent for 2014, as the country’s growth stood at 5.2 percent in the first quarter of this year, according to Finance Minister Chatib Basri.

The minister said the country’s economy is expected to be higher in the second quarter thanks to improved export situation.

He said a number of other micro-economic perspectives stated in the country’s 2014 budget plan will also be adjusted, as its target in oil production this year is likely to fail.

However, the inflation rate may remain at 5.5 percent, while the rupiah/USD exchange rate will not much different from the Indonesian Government’s forecast of 11.5 rupiah/USD.

Meanwhile, in a recent press conference on Indonesian economic outlook in Jakarta, the International Monetary Fund (IMF) said the Indonesian economic growth will increase to 5.8-6 percent next year after obtaining a 5.4 percent-rise this year.

Indonesia’s economy, Southeast Asia’s largest and among the world’s top 10, has been suffering from weak exports, which contribute more than 20 percent to the country’s GDP, he added.-VNA