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Indonesia's key parliamentary body approves 2017 GDP growth target at 5.2 percent
July 13, 2017 / 2:30 PM / 5 months ago

Indonesia's key parliamentary body approves 2017 GDP growth target at 5.2 percent

JAKARTA (Reuters) - The Indonesian parliament’s budgetary committee on Thursday approved a government request to raise its 2017 economic growth target to 5.2 percent from 5.1 percent, the head of the committee Azis Syamsuddin said.

The committee also approved a set of new macroeconomic assumptions on which the 2017 budget would be based, including a slightly higher inflation forecast, a weaker average rupiah exchange rate IDR= and a higher average price for Indonesia's crude oil.

The government has proposed to parliament hiking 2017 spending and cutting the revenue target, resulting in a wider budget deficit. The committee is scheduled to hold more discussions on changes to the budget in coming weeks, which must then be approved as a whole by parliament.

Reporting by Wilda Asmarini; Writing by Gayatri Suroyo; Editing by Hugh Lawson

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