The Car Insurance :Kemenkeu: 2013 growth target of 6.3 percent

Fiscal Policy Board Chief, Bambang Brodjonegoro (Between)

We drop 6.3 percent as an optimistic, "

Jakarta (The Car Insurance)-acting head of Fiscal Policy Agency Ministry of finance Bambang Brodjonegoro says growth target will undergo revision in the BUDGET changes before 2013, from 6.8 percent in the NATIONAL BUDGET, to 6.3 percent.

"We put the 6.3 percent as an optimistic," he said in Jakarta on Wednesday.

Bambang said the projection had been considering the condition of the global economy has not improved and investment sector was experiencing a slowdown due to the decrease in imports of capital goods, in quarter I, 2013.

Despite the revision, he expects the national economy conditions can be better than a quarter I 2013 which only recorded 6,02 percent, mainly from investment sector that still has the potential to grow.

"During the FDI (foreign direct investment) is still coming in, it means investment can still be driven anymore, because we need some growth investments of at least eight percent," he said.

In addition, assuming the macro will change the price of ICP (crude oil prices Indonesia) changed below 112 u.s. dollars per barrel and the lifting of oil decreased from 900,000 per day be 840.000 per day.

"For the ICP, we see if the 100 u.s. dollar still valid not as an average of 2013. While the ' lifting ' is (currently) 840.000, we realistically, "he said.

Bambang added the rupiah exchange rate assumptions are expected to rise from Rp 9.300 per u.s. dollar in STATE BUDGET, the range of Rp 9,600 – Rp 9700 per u.s. dollar in STATE BUDGET changes.

"We see to this day (assuming the exchange rate) to Rp 9,600, almost Rp 9700, later ranged it," he said.

He said the tax revenue target will also undergo revision downwards because of the influence of the global economic slowdown, although the target is still higher than the tax revenue in 2012.
(SYS/B/A035)

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The Car Insurance Info : Economist: growth slowing domestic consumption is stuck

Jakarta (The Car Insurance Info)-Bank Danamon Economist Dian Ayu said Yustina, Indonesia's economic growth in the quarter I 2013 of 6,02 percent on an annual basis (yoy), have been held up by the performance of domestic consumption and investment slowed.

"Growth is stifled by domestic demand became the main driving force of the economy and slowing the pace of investment," he said in the affidavits here on Tuesday.

Ayu said the slowing of consumption, especially in the private sector, are also affected by the high rate of inflation in early 2013.

The condition, he continued, can take up to two next quarter, when rising fuel prices subsidized so enacted.

"However, pressure on consumption will be reduced when shopping is increasing ahead of the elections, and the more helpful by increased absorption of labor, due to the improving unemployment rate," he said.

Ayu added performance sector investment also slowed in quarter I, seen from perlemahan construction services and a decrease in imports of capital goods, so join the withholding rate of economic growth.

"Surprisingly, government spending increased slightly above expectations due to the elections in the region, though still relatively low because of the obstacles the document administration of disbursements," he said.

Overall, the condition of Indonesia's economic growth is still influenced by the increase in the performance of the service sector, particularly transport and communications and finance, and the export sector that still affected the global crisis.

"There are no significant changes from the performance of the industrial sector, because economic growth is still the dominant sector of tertiary or donated by the service industry," he said.

With these conditions, it Was estimated that at the end of the year, economic growth was at number 6,17% (yoy). Inflation rate will also be increased, due to the rise in fuel prices in June, up by 7 percent.

"Whereas, the commodity prices that affect exports to ' rebound ' next year, so the projections for 2014, economic growth ranging from 6.49 percent (yoy)," he said.  (S034/Z002)

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The Car Insurance Info : Hatta make sure economic growth target was revised

Jakarta (The Car Insurance Info)-the Coordinating Minister for the economy, also acting Finance Minister, Hatta Rajasa, making sure that the Government will revise its economic growth target 2013 from listed in the STATE BUDGET amounted to 6.8 per cent, given the condition of the global economy has not improved.

"Economic growth is still 6.8 percent must be revised, we have to be realistic that the world economy is still like this," he said.

According to Hatta, assuming growth in 2013 is expected to be in the range of only 6.3 percent-4 percent and the current tally is still being in the study, prior to the submission of the BUDGET changes.

"If we see that much for us, range, we still dalami," said Hatta.

Hatta also said oil lifting target in 2013 STATE BUDGET that reaches 900,000 barrels a day will be revised because oil production this year is expected to further drop.

"Lifting it may not reach the figure we are targeting 900,000 barrels a day, probably around 800,000-barrels," he said.

In addition the price of crude oil is also expected to Indonesia or ICP changes, although the current average world oil prices still appropriate BUDGET assumption of 100 u.s. dollars per barrel.

"The price of ' crude ' may we see something, and all of it will effect on acceptance. We will do that later discussion, "said Hatta.

The Government immediately filed a REVISED-Changes to do a discussion with PARLIAMENT, because the current number of assumptions macro already does not indicate conformance with current conditions and affect budget posture.

In addition, these changes-REVISED filings also discusses the addition of social assistance expenditures as compensation which has not been budgeted in the STATE BUDGET, in anticipation of the subsidized FUEL price hike plans.

Current macro assumptions in the BUDGET 2013, among others, economic growth of 6.8 percent, inflation rate of 4.9 percent (yoy), an interest rate of NES 3 months 5 percent, the exchange rate of Rupiah per u.s. dollars 9.300, ICP price 100 u.s. dollars a barrel, lifting 900,000 barrels per day of oil and oil equivalent gas-lifting 1.360.000

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The use of domestic products increase industrial growth

Jakarta (The Car Insurance Info)-the use of domestic products can improve the performance of the industry at the end of 2012 through the growth of 6.40 percent or higher than economic growth of 6,23 percent.

"We should be grateful for this achievement. Positive growth in the industrial sector took place amidst the slack of the world economy is mainly happening in America and Europe, "said Director General of the Industrial Manufacturing Base (BIM) Kemenperin, Panggah Susanto, the affidavits are accepted between, here on Wednesday.

According to Panggah, one of the major challenges faced by Indonesia at present is the high invasion of imported goods as a result of the implementation of the various free trade agreement or the Free Trade Agreement (FTA) in the spirit of strengthening the competitiveness of the industry and market security products in the country.

"The optimism of the domestic industry should be accompanied by efforts to encourage increased significantly the volume of use of the product in the country," he said.

The Government, he said, has made efforts through the application of the regulation and a stimulant like campaign program love domestic products on each of the lines of activity of the economy. He revealed the Government spending through the STATE BUDGET/GRANT also was the target of an increase in the use of domestic products.

"With the potential for capital expenditures BUDGET by 2013 amounting to Rp 215 trillion and Capex (Capital Expenditure) STATE-OWNED ENTERPRISES in over 1,000 trillion Rupiah, we can imagine how great the effect the movement of the economy created if procurement of goods/services financed by the STATE BUDGET/BUDGETS give priority to products of domestic industry," he said.

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Solid Job Growth, Rising Aussie

Monexnews-Australia Dollar strengthens versus the rivals traded-his main rivals after a report showed job growth greater than expectations, thereby reducing the pressure on the Reserve Bank of Australia to loosen policy. The number of people employed surged as much as Australia 71.500 in February from the previous month, which was far beyond the expectations of growth of 9,000 jobs from economists. While the unemployment rate stabilized at 5.4%.

"It is a great increase in the number of labor is very powerful, and a bit surprising considering the magnitude of the challenges to be faced by Australia's job market," said Richard Grace, Chief forex analyst and Chief Economist at the Commonwealth Bank of Australia in Sidney. "These Data also illustrate the strength in the economy, which forces people to throw out a short position Aussie earlier." (vid)

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