President Unveils 2017 State Budget, Sets Economic Growth Target at 5.3%
President Joko “Jokowi” Widodo revealed his government’s proposed 2017 state budget during a plenary session at the House of Representatives in Jakarta on Tuesday (16/08).
The budget assumes that the rupiah will appreciate in value next year and that Indonesia’s economy will grow at 5.3 percent, compared to the 5.2 percent growth target in the 2016 revised state budget.
“The global economy is expected to improve [next year], although we have to work hard to deal with uncertainties,” Jokowi said in his speech.
Indonesia had stronger-than-expected annual growth of 5.18 percent in the second quarter of this year, compared with 4.91 percent in the first quarter.
The budget proposal also sees the rupiah being traded at an average of 13,300 against the United States dollar, compared with an assumption of 13,500 against the greenback in the 2016 revised state budget.
The rupiah traded at 13,092 against the US dollar at midday on Tuesday.
Below is a summary of Jokowi’s proposed 2017 budget and 2016 budget estimates:
source: jakartaglobe.beritasatu.com