September 6, 2019 / 4:00 AM / 15 days ago

Indonesia parliamentary body approves 5.3% GDP growth target for 2020

    JAKARTA, Sept 6 (Reuters) - The Indonesian parliament's
budgetary committee approved on Friday the government's 5.3%
economic growth target for 2020, alongside other economic
assumptions that would form the basis of the state budget next
year.
    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  ($157.93
billion) for 2020 revenue collection, 11.6 trillion rupiah
higher than the government's proposals.
    The budget deficit assumption was set temporarily at 1.76%
of GDP and the committee will move to discuss 2020 spending.
    For the approved assumptions, see the table below:
 ASSUMPTIONS                    2020        2020            2019
                            approved    proposal            (Aug
                                                       forecast)
 GDP growth (pct)                5.3         5.3             5.2
 Year-end inflation              3.1         3.1             3.1
 rate (pct)                                       
 Average 3-mth govt              5.4         5.4             5.6
 T-bills (pct)                                    
 Average rph exchange         14,400      14,400          14,250
 rate/$                                           
 Average oil                      63          65              63
 price/barrel, $                                  
 Oil lifting, mln bpd          0.755       0.734           0.754
 Gas lifting, mln boepd        1.191       1.191           1.072
 
($1 = 14,140.0000 rupiah)

 (Reporting by Maikel Jefriando
Writing by Gayatri Suroyo; Editing by Simon Cameron-Moore)
  
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