ID :
112262
Thu, 03/18/2010 - 01:37
Auther :
Shortlink :
https://oananews.org//node/112262
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ECONOMY TO GROW 5.5 PCT IN FIRST SEMESTER 2010 : ECONOMIST
Jakarta, March 17 (ANTARA) - Indonesia's economic growth in the first semester of 2010 is estimated to reach 5.5 percent, driven by the consumption sector, an economist said.
"I expect economic growth in the first semester to reach 5.5 percent and to be mainly driven by retail consumption," Winang Budoyo, an economist at CIMB Niaga Bank said here Wednesday.
Besides consumption, export-oriented manufacturing industries would also be an economic growth driver in the first half of 2010, he said.
About economic growth for the whole year of 2010 , Winang said CIMB Niaga Bank estimated it would be 5.8 percent or higher than the government's projection of 5.5 percent.
The expected higher growth in the second semester of the year would mainly be fueled by the infrastructure sector which would usually surge during the September-December period, he said.
The Finance Ministry had substantially increased the amount of state expenditures, especially for the infrastructure sector, in the Revised 2010 State Budget.
The increase in state expenditures also raised the state budget deficit from 1.6 percent of GDP in the original 2010 State Budget to 2.1 percent of GDP in the Revised 2010 State Budget.
The government had also raised the state budget allocations for fuel, electricity and basic materials subsidies to ensure price stability.
Also raised was the state budget allocation for fiscal subsidies to stimulate several important industries as called for in some of the government's development programs.
About the inflation rate in the first semester of 2010, Winang said it would remain below 4 percent. "I think it will be within a 3.9 percent to 4 percent range as the rice problem is to be resolved soon with the arrival of the harvest season." he said.
For the whole year of 2010, according CIMB Niaga Bank's forecast, the inflation rate would reach 6.3 percent or higher than the government projection of 5.7 percent, Winang said.***
"I expect economic growth in the first semester to reach 5.5 percent and to be mainly driven by retail consumption," Winang Budoyo, an economist at CIMB Niaga Bank said here Wednesday.
Besides consumption, export-oriented manufacturing industries would also be an economic growth driver in the first half of 2010, he said.
About economic growth for the whole year of 2010 , Winang said CIMB Niaga Bank estimated it would be 5.8 percent or higher than the government's projection of 5.5 percent.
The expected higher growth in the second semester of the year would mainly be fueled by the infrastructure sector which would usually surge during the September-December period, he said.
The Finance Ministry had substantially increased the amount of state expenditures, especially for the infrastructure sector, in the Revised 2010 State Budget.
The increase in state expenditures also raised the state budget deficit from 1.6 percent of GDP in the original 2010 State Budget to 2.1 percent of GDP in the Revised 2010 State Budget.
The government had also raised the state budget allocations for fuel, electricity and basic materials subsidies to ensure price stability.
Also raised was the state budget allocation for fiscal subsidies to stimulate several important industries as called for in some of the government's development programs.
About the inflation rate in the first semester of 2010, Winang said it would remain below 4 percent. "I think it will be within a 3.9 percent to 4 percent range as the rice problem is to be resolved soon with the arrival of the harvest season." he said.
For the whole year of 2010, according CIMB Niaga Bank's forecast, the inflation rate would reach 6.3 percent or higher than the government projection of 5.7 percent, Winang said.***
