"The economic growth is agreed at 5.2 percent," said Commission XI chairman Melchias Markus Mekeng who led the meeting with the Finance Ministry, the central bank, the National Development Planning Board and the Central Bureau of Statistics.
Assumption for inflation is set at 4.3 percent while the rupiah exchange rate against the US dollar is set at Rp13,400.
The interest rate for three-month SPN (treasury notes) is set at 5.2 percent.
Assumption for economic growth is set at 0.1 percent higher than the assumption set in the 2017 budget which is at 5.1 percent as household consumption is predicted to improve a little and export-import performance is projected to be more positive due to increasing prices of commodities in the world.
The assumption for inflation is also up from 4 percent before due to pressure from administered prices.
The assumption for the rupiah exchange rats is lowered by Rp100 per US dollar from Rp13,300 before in consideration of global economic dynamic especially with regard to rate hike by the US central bank (The Fed).
The SPN rate is also lower compared to the assumption in the 2017 budget which was set at 5.3 percent.(*)
Editor: Heru Purwanto
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