Indonesia’s GDP to grow up to 6 per cent in 2014

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Indonesia transportIndonesia’s Vice President Boediono has said he is optimistic that with better control of food-price inflation Indonesia’s economy will grow by between 5 per cent and 6 per cent in 2014.

“I predict that our economic growth will improve next year although it is not likely to be over 6 per cent as occurred in 2011. However, this cannot be avoided if we want a balance between stability and economic growth,” he said..

He was speaking to journalists and foreign diplomats at the Jakarta Foreign Correspondence Club in Jakarta on December 16, as quoted by Antara news agency.

Boediono added that Indonesia’s inflation rate until the end of 2013 was expected to reach 8 per cent and this figure was far above the country’s average inflation rate during the last several years, which was between 4 and 5 per cent annually.

Boediono was also confident that investment and consumer spending in 2014 would remain high. Activities centering on the 2014 general elections would likely contribute positively to growth as well, he said.Boediono added that oil imports would probably reduce due to the government’s plan to shift from petroleum diesel to palm-oil based biofuels.

On economic growth and stability, the Vice President said Indonesia was still noted globally as a high-growth country. After enjoying stable economic growth of 6 per cent annually, Indonesia’s economic growth fell to 4 per cent when the economic crisis hit in 2008. The country later restored pre-2008 rates of annual GDP growth of 6 per cent, exceeding growth in other countries with the exception of China.

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Reading Time: 1 minute

Indonesia’s Vice President Boediono has said he is optimistic that with better control of food-price inflation Indonesia’s economy will grow by between 5 per cent and 6 per cent in 2014.

Reading Time: 1 minute

Indonesia transportIndonesia’s Vice President Boediono has said he is optimistic that with better control of food-price inflation Indonesia’s economy will grow by between 5 per cent and 6 per cent in 2014.

“I predict that our economic growth will improve next year although it is not likely to be over 6 per cent as occurred in 2011. However, this cannot be avoided if we want a balance between stability and economic growth,” he said..

He was speaking to journalists and foreign diplomats at the Jakarta Foreign Correspondence Club in Jakarta on December 16, as quoted by Antara news agency.

Boediono added that Indonesia’s inflation rate until the end of 2013 was expected to reach 8 per cent and this figure was far above the country’s average inflation rate during the last several years, which was between 4 and 5 per cent annually.

Boediono was also confident that investment and consumer spending in 2014 would remain high. Activities centering on the 2014 general elections would likely contribute positively to growth as well, he said.Boediono added that oil imports would probably reduce due to the government’s plan to shift from petroleum diesel to palm-oil based biofuels.

On economic growth and stability, the Vice President said Indonesia was still noted globally as a high-growth country. After enjoying stable economic growth of 6 per cent annually, Indonesia’s economic growth fell to 4 per cent when the economic crisis hit in 2008. The country later restored pre-2008 rates of annual GDP growth of 6 per cent, exceeding growth in other countries with the exception of China.

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