"The economic growth target of 6.8 percent must be revised. Given the current global economic condition we must be realistic," Acting Finance Minister Hatta Rajasa said.Jakarta (ANTARA News) - The government is certain to revise downward the economic growth target of 6.8 percent for 2013 as the global economy has shown no signs of improvement, acting finance minister Hatta Rajasa said.
"The economic growth target of 6.8 percent must be revised. Given the current global economic condition we must be realistic," he said here on Tuesday.
Hatta Rajasa who is currently the coordinating minister for economic affairs said the national economy is likely to expand by a range of 6.3 percent to 6.4 percent this year.
He said the oil lifting (oil sale) target of 900,000 barrels per day will also be revised as oil production is expected to drop this year.
"It is unlikely to achieve the oil lifting target of 900,000 barrels per day. The oil lifting is likely to reach around 800,000 barrels per day," he said.
The Indonesia crude price (ICP) is also likely to be revised although the average global oil price is still relevant to the assumed US$100 per barrel in the 2013 state budget, he said.
The government will soon propose a revision of the 2013 state budget to the House of Representatives (DPR) on the grounds a number of macro assumptions no longer reflect the latest conditions.
In addition, it will also propose extra budget fund to compensate the poor for the looming rise in subsidized fuel prices.
Under the 2013 state budget, the government has set the targets of economic growth at 6.8 percent, inflation rate at 4.9 percent, three-month treasury bill (T-bill) rate at 5 percent, the rupiah`s exchange rate at Rp9,300 per dollar, ICP at US$100 a barrel, oil lifting at 900,000 barrels per day and gas lifting 1,360,000 equivalent to oil.(*)
Editor: Heru Purwanto
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