Indonesia parliamentary body approves 5.3pct GDP growth target for 2020

07-Sep-2019 Intellasia | Reuters | 6:02 AM Print This Post

The Indonesian parliament’s

budgetary committee approved on Friday the government’s 5.3 percent

economic growth target for 2020, alongside other economic

assumptions that would form the basis of the state budget next


Nearly all economic assumptions President Joko Widodo

presented to parliament in August were approved, except for the

average price of Indonesian crude in 2020 and oil lifting, which

parliament and the government agreed to tweak slightly.

Based on those assumptions, the committee and the government

agreed to set a target of 2,233.2 trillion rupiah ($157.93

billion) for 2020 revenue collection, 11.6 trillion rupiah

higher than the government’s proposals.

The budget deficit assumption was set temporarily at 1.76 percent

of GDP and the committee will move to discuss 2020 spending.

For the approved assumptions, see the table below:

ASSUMPTIONS 2020 2020 2019

approved proposal (Aug


GDP growth ( percent) 5.3 5.3 5.2

End of the year inflation 3.1 3.1 3.1

rate ( percent)

Average 3-mth govt 5.4 5.4 5.6

T-bills ( percent)

Average rph exchange 14,400 14,400 14,250


Average oil 63 65 63

price/barrel, $

Oil lifting, million bpd 0.755 0.734 0.754

Gas lifting, million boepd 1.191 1.191 1.072

($1 = 14,140.0000 rupiah)


Category: Indonesia

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