Monday, 16 Zulhijjah 1442 / 26 July 2021

Monday, 16 Zulhijjah 1442 / 26 July 2021

VP: Decrease in economic growth target is realistic

Rabu 08 Jun 2016 16:56 WIB

Red: Julkifli Marbun

Jusuf Kalla

Jusuf Kalla

Foto: Republika/ Wihdan

REPUBLIKA.CO.ID, JAKARTA -- Vice President Jusuf Kalla said that the deflation of the target number in the country's economic growth is realistic and can happen in weak economic condition as it is now.

"In this condition we all need to be realistic, most countries can't set a high target at the moment. Thus, a target of 5.1 percent is reasonable, and we can reach that number, despite the situation," said Vice President Kalla in Jakarta, Wednesday.

He further explained that the decrease in economic growth target is caused by the decrease in infrastructure and trade exports.

On top of that, import is also experiencing reduction, causing the industry to weaken.

"The market demand is lowering, which means taxes goes down along with it. Automatically, development is not going as smoothly as we have planned," he said.

The government, along with Commission XI of the House of Representatives are discussing the changes in macro assumption Draft State Budget (RAPBNP) 2016 in Jakarta, Tuesday evening.

Minister of Finance Bambang Brodjonegoro said that the 2016 economic growth rate is at a realistic number of 5.1 percent, considering the weak global economic state that continue to slow down this year.

With the projected number, there should be a rise up to 5.3 percent in the second quarter through to fourth. Considering that the Indonesian economy grew only 4.92 percent in the first quarter of the year.

The work meeting also established the macro assumption of inflation rate at 4.0 percent, exchange rate between rupiah and US dollar at 13,500 rupiah and 3 months treasury note (SPN) interest rate is at 5.5 percent.

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