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Indonesia's key parliamentary body approves 2017 GDP growth target of 5.1 pct
September 29, 2016 / 4:51 AM / a year ago

Indonesia's key parliamentary body approves 2017 GDP growth target of 5.1 pct

JAKARTA, Sept 29 (Reuters) - A budgetary committee of
Indonesia's parliament on Thursday agreed with the government to
set a 2017 economic growth target of 5.1 percent, below the
president's initial proposal of 5.3 percent.
    The committee and Indonesia's Finance Minister Sri Mulyani
Indrawati also agreed on other assumptions, including inflation
at 4 percent and a rupiah exchange rate at 13,300 to the
dollar, on which the 2017 state revenue target is based on.
    Despite setting a slightly slower economic growth target,
Committee Chairman Kahar Muzakir said the 2017 revenue target
was set at 1,750.3 trillion rupiah ($135.05 billion), higher
than the 1,737.6 trillion rupiah that President Joko Widodo
proposed in August. 
    Indrawati has said the 2017 target is about 13 percent more
than what the government thinks it can collect this year,
including revenue from a tax amnesty programme.
    The committee and the government set a tentative 2017 budget
deficit target of 2.41 percent of gross domestic product (GDP).
The deficit will depend on the committee's further approval of
state expenditure.
    The 2017 state budget is due to be approved as a whole by
parliament next month. 
    For the approved assumptions, see the table below:
 ASSUMPTIONS                   2017     2016           2015
                           approved      budget     audited
                                      unaudited  
 GDP growth (pct)               5.1         5.2         4.8
 Year-end inflation               4           4        3.35
 rate (pct)                                      
 Average 3-mth govt             5.3         5.5        5.97
 T-bills (pct)                                   
 Average rph exchange        13,300      13,500      13,392
 rate/$                                          
 Average oil                     45          40        49.2
 price/barrel, $                                 
 Oil lifting, mln bpd         0.815       0.820       0.778
 Gas lifting, mln boepd       1.115       1.115       1.195
 

($1 = 12,960.0000 rupiah)

 (Reporting by Hidayat Setiaji; Additional reporting and writing
by Gayatri Suroyo; Editing by Kim Coghill)

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