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Indonesia approve part of 2012 budget's macro economic assumptions

06-14-2011 14:32 BJT

JAKARTA, June 14 (Xinhua) -- Indonesian government and parliament have agreed part of macro economic assumptions set for the country's state budget next year after long and serious discussions, local media reported here.

The meeting resulted in agreements on several macro economic assumptions that consisted of economic growth, national currency exchange rate and inflation.

During the meeting with legislators, the government was represented by Finance Minister Agus Martowardoyo, National Development Agency (Bappenas) Chairperson Armida Alisjahbana, Head of Statistic Agency (BPS) Rusman Heriawan and cenral bank deputy governor Budi Mulya.

The parliament agreed to set economic growth target for 2012 state budget at 6.6-7 percent, or higher than the range proposed by the government at 6.5-6.9 percent. The two parties also agreed the currency exchange rate at between 8,600 to 9,100 rupiah per 1 U.S. dollar.

Inflation rate assumption was set at 4-5.3 percent. "If we set the maximum rate at 5.4 percent, it would be no different from 2011," Harry Azhar Aziz, a legislator from the Golkar party was quoted as saying by the tempointeraktif.com.

The parliament has yet to pledge its agreement on loan benchmark rate. The two parties, however, had supported loan benchmark rate assumption at 5.5-6.75 percent from the range previously proposed at 5.5-7.5 percent.

The other macro economic assumptions, such as poverty and unemployment rates, were yet to be approved by the two parties. It would take more discussions between the two parties on those assumptions.

Editor:Zheng Limin |Source: Xinhua

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