The country`s economy grew only 6.23 percent falling short of the target of 6.5 percent last year partly caused by large imports of oil fuel, Hatta saidJakarta (ANTARA News) - Oil fuel imports puts a brake on Indonesia`s economic growth in 2012, chief economics minister Hatta Rajasa said.
The country`s economy grew only 6.23 percent falling short of the target of 6.5 percent last year partly caused by large imports of oil fuel, Hatta said here on Thursday.
Increase in imports including oil fuel imports in 2012 while exports contracted had resulted in trade deficit that year, he said.
Indonesia suffered a trade deficit of US$1.33 billion in 2012, the first in many years , caused by shrinking exports with imports surging
The Central Bureau of Statistics said that the country`s exports shrank 4.6 percent and imports rose 9.92 percent in 2012.
Hatta said the government is set to be more careful in managing the oil and gas sector to prevent trade deficit in 2013.
He called for greater efficiency in oil consumption to reduce imports.
He said commodity price fall like crude palm oil, rubber and coal also contributed to failure in reaching the economic target.(*)
Editor: Heru Purwanto
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