Wednesday, 18 July 2018 | 04:09 WIB

Coordinating Minister Darmin Argues IMF Analysis on Indonesia’s Economic Growth Outlook

Coordinating Minister for Economic Affairs Darmin Nasution

JAKARTA, NETRALNEWS.COM - Coordinating Minister for Economic Affairs Darmin Nasution still admitted economic growth will be better after seeing Indonesia's investment and exports which continue to improve even if viewed in month to month (MTM) the figure is not too high. However, if viewed annually (YOY) exports are much higher.

In addition, he is optimistic that Indonesia's overall economic growth will be positive this year, closer to 5.4 percent. "Economic growth this year if we look will move to a number may be closer to 5.4 percent," he said in his office, Jakarta, Monday (10/16/2017).

This figure is higher than previous outlook. Even the International Monetary Fund (IMF) and World Bank (WB) set Indonesia's economic growth outlook this year at 5.2 percent.

"Indeed WB or IMF for example lowered to 5.2 percent that. They see it more in terms of because we do not adjust the fuel price, so they considered the subsidy a bit too big. Hence they decreased slightly from 5.3 percent to 5.2 percent, earlier they were at 5.4 percent as well," he said.

Overall, Darmin saw the economic development is still good although it is not very encouraging in terms of growth of state revenue.

"But growing, better than last year but not as expected. Then the credit growth if YOY moves to 8-9 percent, this means to sustain economic growth that is higher as expected is rather difficult," he said.