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The International Monetary Fund (IMF) has estimated that Indonesian economic
growth would reach about 4.9 percent this year.
The IMF revised its the global economic growth forecast due to the declining
commodity prices and economic slowdown in emerging countries, such as China
and Brazil, Agus said after speaking at a seminar in Jakarta on Wednesday.
The growth assumption in the 2016 state budget is 5.3 percent. The Indonesian
government plans to submit its budget revision bill to the House of Representatives
in May, as part of the governments response to the continuing global economic
slowdown.
Meanwhile, the central bank is projecting growth of between 4.2 and 5.6 percent.
Indonesia should focus more on volatile food prices to keep the inflation rate below
4 percent, he said. If we cannot hold back the inflation rate, it will create a lesscompetitive climate and the interest rate is hard to cut, he said.