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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Kemenkeu expect the deficit below the three percent

Deputy Finance Minister Mahendra Siregar (INTERMEDIATE PICTURES)

Do not let more than 1.5 percent, if more than that so too thin with a limit of three percent, and pose a risk of its own, "

Jakarta (The Car Insurance Info)-Vice Finance Minister Mahendra Siregar expects budget deficit maintained under three percent of GDP to the fiscal risks of excess energy subsidies and spending on social assistance is not too high.

"Do not let more than 1.5 percent, if more than that so too thin with a limit of three percent, and pose a risk of its own," he said moments after the Musrenbangnas event are found in Jakarta on Tuesday.

Mahendra said the Government soon filed a REVISED due to changes in assumptions macro that does not match the current conditions as well as possible additional compensation due to the subsidized FUEL price hike plans.

For that, he expects the STATE BUDGET can anticipate changes related to FUEL policy and macroeconomic indicators distinction, without endangering the budget deficit as well as pose a risk.

"We've been anticipating the existence of this policy, but the longer we obtain that decision may give rise to risks and uncertainties," he said.

Mahendra added the issue of excess consumption of FUEL has caused negative impact on fiscal health so that an effort to keep budget deficit according to the LAW to be able to maintain economic stability.

"Uncertainty can give impact and confidence to keep fiscal, so we should be able to maintain economic stability," he said.

Government in the STATE BUDGET deficit is a budget of the 2013 set 1.65 percent of GDP or amounting to Rp153,3 trillion, but if there is an excess of energy subsidy spending, the deficit is expected to reach 2.4 percent of GDP.

In the submission of BUDGET changes in 2013, increasing budget deficit is expected to widen because the Government must compensate social assistance to poor communities affected by the increase in subsidized fuel prices.

The new Government would raise subsidized fuel prices, when the poor get adequate social assistance in the form of direct assistance while community, so that poverty levels not further widened.

(S034/S025)

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