Wed, 26 Mar 2008
Jakarta (ANTARA News) - The World Bank plans to revise downward its Indonesian economic growth rate projection for 2008 to 6.0 percent from 6.4 percent due to the US economic slowdown but assures the move will not affect the government`s effort to achieve the target of reducing the poverty rate.

"That is still a favorable growth. The projected growth rate of 6.0 percent is chiefly caused by improving macro economic policy, particularly fiscal policy. The drop is fairly slight as it falls to 6.0 percent from 6.4 percent," World Bank Country Director for Indonesia Joachim von Amsberg said on Tuesday.

He said the projected 6.0 percent growth rate still enabled the government to create more jobs and reduce the poverty rate although it would not be as fast as 7-8 percent. "The projected 6.0 percent growth rate is still quite favorable to Indonesia amidst the turbulent global economy," he said.

Asked whether the growth rate would be higher than 6.0 percent if the government could benefit from the momentum of higher commodity prices, he said if it could do so there would be room to raise subsidy.

He said there were three strategic steps to speed up the creation of more jobs, namely improving the investment climate, providing easy access to education and introducing effective and efficient social safety network system.

"If Indonesia wants to achieve a growth rate of more than 6.0 percent, it must rely on the high level of investment both from the government and private sector," he said. (*)



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