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Indonesia, post-S&P upgrade, to focus on keeping budget credible - finance minister
May 19, 2017 / 11:18 AM / 4 months ago

Indonesia, post-S&P upgrade, to focus on keeping budget credible - finance minister

JAKARTA, May 19 (Reuters) - Indonesia’s finance minister said that after a rating upgrade by Standard & Poor‘s, the government will focus on keeping the state budget credible and effective.

“Indonesia will try to reach its development goals without having to resort to an unsustainable budget,” Sri Mulyani Indrawati told reporters on Friday.

Indrawati said the upgrade to investment grade could help boost investment in Indonesia and allow it reach economic growth of 5.4-6.1 percent in 2018.

In recent quarters, Indonesia has had annual growth of 5 percent or less.

Earlier on Friday, S&P upgraded Indonesia’s sovereign ratings to investment grade, a long-awaited move that sent Jakarta shares soaring on hopes it could spur a wave of investment into Southeast Asia’s biggest economy. (Reporting by Hidayat Setiaji; Writing by Fransiska Nangoy)

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