Speaking at the Asian Round-table on Corporate Governance here on Monday he said the projection was based on growth in the investment and consumption sectors which had been the biggest contributors to economic growth for some time.
"I think if growth in the investment and other sectors in Indonesia are maintained at the rates we have seen lately it is likely that Indonesia`s economic growth may reach 6.5 to 6.6 percent in Q3," he said.
In annual terms however the minister still holds to the revised budget assumption of 6.5 percent in view of the unpredictable impact of the current European economic crisis.
"We are indeed concerned over current global economy whose growth has been revised from 4.4 percent to 4.0 percent," he said.
The minister also warned of a global economic slowdown that could continue until 2012 to make the growth to reach only 3.0 percent.
He said Indonesia could be indirectly affected by the crisis as most European banks are holders of Asian portfolio.
"We know that a lot of banks in Europe especially are facing liquidity and confidence problems, having portfolio in Asia including Indonesia and so we must prepare ourselves well," he said.
In view of that the minister said he could not as yet confirm whether or not the 6.7 percent growth assumption for the 2012 draft budget would be changed.
He said however if global conditions remained uncertain and affected badly on the country`s economy the government would consider proposing a change in the growth assumption in the budget ahead of schedule.
"We are also alert. If the global economy is worsening and will affect Indonesia we will propose revising the budget ahead of schedule. But at the present forum we would not change the 6.7 percent assumption yet," he said.(*)
Editor: Heru Purwanto
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