Ada Pertanyaan? Hubungi Kami 
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Ada Pertanyaan? Hubungi Kami Fathan Qorib, Andin Aditya Rahman
After forecasting economic growth of 5.5 to 6 percentin 2015, the government recently confirmed with confident that Indonesia’s economic growth in 2014 will reach between 5.1 and 5.5 percent.
“Economic growth in 2014 will be 5.5 percent. We are optimistic that the range will be 5.1 to 5.5 percent,” stated Chatib Basri, Minister of Finance, in Jakarta on Monday.
However, Mr. Basri emphasized that to reach optimum economic growth some additional work is necessary including increasing exports and controlling imports. The economy also needs to be supported by providing certainty for investors and maintaining the public’s purchasing power.
“It is not easy. It requires maximum effort. In the second quarter growth will be lower than that of the first quarter,” explained Mr. Basri.
A potential obstacle in achieving the target, Mr. Basri continued, is Presidential Directive No. 4 of 2014on Steps to Save and Reduce Expenditure of Ministries/Institutions for Implementing the State Budget for the Fiscal Year of 2014, which requires a cut of IDR 100 trillion to this year’s state budget.
“If the state budget spending is reduced by IDR 100 trillion, maybe economic growth will be lower than 5.5 percent,” admitted Mr. Basri, who previously held the position as the Chairman of the Indonesia Investment Coordinating Board (BKPM).
Commenting on the same issue, Chairul Tanjung, Coordinating Minister for Economic Affairs, asserted that certainty in investment activities will boost economic growth. This is also critical for overcoming Indonesia’s current account deficit.
“Investments must be encouraged, and not just from foreigners, but also by local private parties and state-owned enterprises,” explained Mr. Tanjung.
He further elaborated that the trade balance deficit in April 2014of USD 1.96 billion disrupted the performance of the current account balance. The deficit was caused by an overwhelming number of imports compared to pitiful export earnings.
To anticipate further trade balance issues, Mr. Tanjung continued, his Ministry will optimize the performance of exports and control imports as part of last-minute efforts in the twilight of the current administration.
“Therefore we are making changes to our assumptions. Exports will be boosted and imports will be minimized,” he concluded.
(hot/kc)
Fathan Qorib, Andin Aditya Rahman
After forecasting economic growth of 5.5 to 6 percentin 2015, the government recently confirmed with confident that Indonesia’s economic growth in 2014 will reach between 5.1 and 5.5 percent.
“Economic growth in 2014 will be 5.5 percent. We are optimistic that the range will be 5.1 to 5.5 percent,” stated Chatib Basri, Minister of Finance, in Jakarta on Monday.
However, Mr. Basri emphasized that to reach optimum economic growth some additional work is necessary including increasing exports and controlling imports. The economy also needs to be supported by providing certainty for investors and maintaining the public’s purchasing power.
“It is not easy. It requires maximum effort. In the second quarter growth will be lower than that of the first quarter,” explained Mr. Basri.
A potential obstacle in achieving the target, Mr. Basri continued, is Presidential Directive No. 4 of 2014on Steps to Save and Reduce Expenditure of Ministries/Institutions for Implementing the State Budget for the Fiscal Year of 2014, which requires a cut of IDR 100 trillion to this year’s state budget.
“If the state budget spending is reduced by IDR 100 trillion, maybe economic growth will be lower than 5.5 percent,” admitted Mr. Basri, who previously held the position as the Chairman of the Indonesia Investment Coordinating Board (BKPM).
Commenting on the same issue, Chairul Tanjung, Coordinating Minister for Economic Affairs, asserted that certainty in investment activities will boost economic growth. This is also critical for overcoming Indonesia’s current account deficit.
“Investments must be encouraged, and not just from foreigners, but also by local private parties and state-owned enterprises,” explained Mr. Tanjung.
He further elaborated that the trade balance deficit in April 2014of USD 1.96 billion disrupted the performance of the current account balance. The deficit was caused by an overwhelming number of imports compared to pitiful export earnings.
To anticipate further trade balance issues, Mr. Tanjung continued, his Ministry will optimize the performance of exports and control imports as part of last-minute efforts in the twilight of the current administration.
“Therefore we are making changes to our assumptions. Exports will be boosted and imports will be minimized,” he concluded.
(hot/kc)