October 16, 2018 / 11:02 AM / a month ago

Indonesia's budget committee approves 5.3 pct target for 2019 GDP growth

    JAKARTA, Oct 16 (Reuters) - The Indonesian parliament's
budgetary committee on Tuesday approved the assumptions on which
the government based its 2019 budget proposal, including a GDP
growth target of 5.3 percent. 
    Finance Minister Sri Mulyani Indrawati gave a forecast of
5.14 percent for this year's economic growth, undershooting a
target set at 5.4 percent.
    The budget body also approved several assumptions that would
form part of the basis for next year's revenue and spending
targets, including an average exchange rate of 15,000 rupiah to
the dollar. The rupiah has been trading around 15,200 a
dollar this week, its weakest in over 20 years.
    The committee will discuss spending plans further in coming
weeks. The 2019 state budget needs approval by parliament.
    For the approved assumptions, see the table below:
 ASSUMPTIONS                    2019        2019  2018 budget   
                            approved    proposal  (Aug forecast)
 GDP growth (pct)                5.3         5.3             5.2
 Year-end inflation              3.5         3.5             3.5
 rate (pct)                                       
 Average 3-mth govt              5.3         5.3            5.00
 T-bills (pct)                                    
 Average rph exchange         15,000      14,400          13,973
 rate/$                                           
 Average oil                      70          70              70
 price/barrel, $                                  
 Oil lifting, mln bpd          0.775       0.750           0.775
 Gas lifting, mln boepd        1.250       1.250           1.116
 
 (Reporting by Maikel Jefriando; Writing by Gayatri Suroyo;
Editing by Richard Borsuk and Simon Cameron-Moore)
  
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