Indonesia eyes up to 5.6 pct growth in 2020

Source: Xinhua| 2019-05-20 21:44:42|Editor: ZX
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JAKARTA, May 20 (Xinhua) -- Indonesia is aiming for economic growth of up to 5.6 percent in its 2020 state budget on the back of apparent impetuses for growth throughout this year which may continue next year, Indonesia Finance Minister Sri Mulyani said here Monday.

Speaking in a parliamentary assembly to convey 2020 state budget and fiscal policy drafts, the minister said those impetuses are consumption, that has been steadily grew at around 5 percent, low inflation and expanding government's spending.

Higher growth for next year is also highly-expected to be contributed by exports and investments as government is improving the policies to support the two sectors, the minister added.

"With all of those potentialities, government proposed to set economic growth target between 5.3 to 5.6 percent," the minister said.

The target is higher than 5.3 percent set for this year. The nation registered 5.07 percent growth in the first 3 months this year.

Southeast Asia largest economy posted a five-year high growth of 5.17 percent last year.

Besides the proposed growth target, the minister also proposed inflation rate between 2 to 4 percent for next year. Inflation was targeted at 3.5 percent this year.

Meanwhile, the budget deficit target was proposed up to 1.75 percent from gross domestic products (GDP) next year, lower than 1.84 percent set for this year.