Budget Committee Approves 2018 GDP Growth Target of 5.4%
Jakarta. The House of Representatives budget committee on Wednesday (04/10) 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 gross domestic product growth target for this year is 5.2 percent, while the central bank's 2017 growth outlook is 5.1 percent to 5.2 percent.
The committee also approved several macroeconomic assumptions, including an end-2018 annual inflation rate of 3.5 percent and the average exchange rate of Rp 13,400 against the United States dollar.
Based on the approved assumptions, both the committee and the government agreed to set 2018 total revenue target at Rp 1,894.7 trillion ($140.6 billion), compared with the Rp 1,878.4 trillion 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 the House.
For the approved assumptions, see the table below:
Reuters
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