'Last year's growth may be below 8%<\/p>\n
JAKARTA (JP): Minister of Development Planning Ginandjar
\nKartasasmita said yesterday that Indonesian economic growth last
\nyear was estimated to exceed 7.5 percent but was lower than the 8
\npercent achieved in 1995.<\/p>\n
Speaking to reporters after meeting with President Soeharto,
\nGinandjar said the government was still calculating the exact
\nfigures.<\/p>\n
"But it will be between the growth rates achieved in 1994 and
\n1995. In 1994 we grew by 8.1 percent," he said.<\/p>\n
Ginandjar said the strengthening of the dollar against the yen
\nwould be an advantage to Indonesia's exports, but too-strong
\ndollar would not be beneficial to Indonesia.<\/p>\n
"A strong dollar will increase our export earnings, but if it
\nis too strong, it will have a negative impact on our
\ncompetitiveness," he said.<\/p>\n
It was for this reason, he said, that Indonesia should
\nincrease the competitiveness of its export commodities.<\/p>\n
"Exports must be our top priority," he said.<\/p>\n
Finance Minister Mar'ie Muhammad said on Wednesday that
\nIndonesia's foreign debt was declining due to the weakening of
\nthe yen against the U.S. dollar. He said 40 percent of Indonesian
\nforeign debts were denominated in yen.<\/p>\n
The World Bank estimated Indonesia's foreign debt, including
\nprivate sector loans, at some $100 billion. (pwn)<\/p>",
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