5.4 Percent GDP Growth Needed to Achieve 2017 Target

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14/08/2017 12:36 WIB

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Economic Growth 2010-First Half 2017

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Indonesia's economic growth is targeted at 5.2 percent in the 2017 Revised State Budget (APBN-P). To achieve this Gross Domestic Product (GDP) growth, growth of 5.3-5.4 percent is needed in the third and fourth quarters of this year. This is because GDP in the first and second quarters was only 5.01 percent.

The source of GDP growth in the second quarter of 2017 was driven by household consumption expenditure at 2.65 percent. Meanwhile, Net Fixed Capital Formation (PMTB) contributed 1.69 percent, and other components contributed 0.67 percent. Geographically, Java still dominated domestic economic growth at 58.65 percent.

The APBN-P 2017 macroeconomic assumptions target economic growth at 5.2 percent, with an inflation rate of 4.3 percent and an exchange rate of Rp 13,400 per US dollar. The oil price is targeted at US$ 48 per barrel, while oil lifting is targeted at 815 thousand barrels per day and gas at 1.15 million barrels of oil equivalent per day.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."