RI`s economic growth to rebound in three years` time: Minister

Jakarta (ANTARA News) - The Indonesian economy is expected to rebound in the next three years after it grows slightly slower this year, National Development Planning Minister/Chief of the National Development Planning Agency (Bappenas) Armida Alisjahbana said.

"It (the slowdown) is just short term because the economy will rebound in the next two or three years," she said here on Tuesday.

Armida said the national economy only grew 5.21 percent in the first quarter due to weak export performance following a ban on the export of unprocessed minerals.

"Only mineral exports plunged. The slump will be temporary while non-oil/non-gas exports may rebound," she said.

She expressed hope the exports would recover soon so that they could contribute to the economic growth besides investment and household consumption.

Earlier, Coordinating Minister for Economic Affairs Hatta Rajasa expected the export performance would improve soon particularly after the US and Japanese economies began to show signs of recovery. Both the US and Japan are the main market for Indonesias exports.

"We must work hard to prevent our exports from falling further. I am optimistic that in the second quarter our exports will recover, along with the improving economies of developed nations although Chinas growth is corrected," he said.

The government has set the assumed economic growth rate of 6.0 percent in the 2014 state budget. However, the target will likely be difficult to achieve and the government is considering changing it in the revised 2014 state budget.(*)