Posted on 17 Jun 2008
The government and the House of Representatives (DPR) are
looking into the possibility of raising the country`s gross domestic product
(GDP) to Rp5,275.9 trillion by relying on exports and investments.
"With the GDP reaching that amount, our per capita GDP
has actually exceeded US$2,700. But it seems that we were still at the level of
middle income countries," Syahrial Loetan, secretary of the state minister
for national development planning/chief secretary of the National Development
Planning Agency (Bappenas), said on Monday.
Hopefully, non-oil/non-gas exports would be the main foreign
exchange earner while natural resources would be the main factor to attract
investments next year, he said.
"But we must keep in mind that the improving economy
will make the people`s consumption stronger," he said.
The Rp5,275.9 trillion GDP could be achieved if the economy
grew by 6.2 percent and the inflation rate reached 6.5 percent, he said.
After all, being at the level of middle income countries
would make it difficult for
"Today, almost all loans are available only under
commercial schemes," he said.
According to official data, the country`s macro assumptions
in the year up to May 2008 show the economic growth rate was recorded at 6.3
percent, the inflation rate at 10.4 percent, the interest rate on Bank
Indonesia Certificates (SBI) for three-month deposits at 8.1 percent, the
rupiah`s exchange rate at Rp9,254 per dollar, Indonesian crude prices (ICP) at
US$104.8 a barrel, oil production at 922,500 barrels per day, fuel consumption
at 16.4 million kiloliters.
In the revised 2008 state budget, the target of economic
growth rate for 2008 has been set at 6.4 percent, inflation rate 6.5 percent,
interest rate on SBI for three-month deposits 7.5 percent, the rupiah`s
exchange rate Rp9,100 per dollar, ICP US$95 a barrel, oil production 927,000
barrels per day, and oil consumption 35.5 million kiloliters.
