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Indonesia's budget committee approves 2018 GDP growth target of 5.4 pct
October 4, 2017 / 5:21 AM / in 20 days

Indonesia's budget committee approves 2018 GDP growth target of 5.4 pct

    JAKARTA, Oct 4 (Reuters) - The Indonesian parliament's budgetary
committee on Wednesday approved parts of a government proposal for the
2018 state budget, including an economic growth target of 5.4 percent for
next year.
    The government's GDP growth target for this year is 5.2 percent. The
central bank's 2017 growth outlook is 5.1-5.2 percent.
    The committee also approved several macroeconomic assumptions,
including end-2018 annual inflation rate of 3.5 percent and the average
exchange rate of the rupiah against the dollar of 13,400.
    Based on the approved assumptions, both the committee and the
government agreed to set 2018 total revenue target at 1,894.7 trillion
rupiah ($140.58 billion), above the 1,878.4 trillion rupiah target in the
government's initial proposal submitted in August.
    The committee is scheduled to hold more discussions on 2018 spending
plans in coming weeks. The 2018 state budget would still need further
approval as a whole by parliament.
    For the approved assumptions, see the table below:
 ASSUMPTIONS                    2018        2018      2017          2016 
                            approved    proposal    budget      (audited)
                                                  (unaudited)  
 GDP growth (pct)                5.4         5.4          5.2         5.0
 Year-end inflation              3.5         3.5          4.3         3.0
 rate (pct)                                                    
 Average 3-mth govt              5.2         5.3          5.2         5.7
 T-bills (pct)                                                 
 Average rph exchange         13,400      13,500       13,400      13,307
 rate/$                                                        
 Average oil                      48          48           48          40
 price/barrel, $                                               
 Oil lifting, mln bpd          0.800       0.800        0.815       0.829
 Gas lifting, mln boepd        1.200       1.200        1.150       1.180
 
($1 = 13,478.0000 rupiah)

 (Reporting by Hidayat Setiaji; Writing Gayatri Suroyo; Editing by Sam
Holmes)
  

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