Tue, 09 Mar 2010

Jakarta (ANTARA News) - Bank Indonesia (the central bank/BI) said on Monday the domestic economy may grow above 5 percent in the first quarter of 2010.

"The economic growth may exceed 5 percent. We will calculate it precisely later on. So the first-quarter economic growth will be revised upward as it will influence the overall economic growth in 2010," Bank Indonesia Deputy Governor Hartadi Sarwono said at the Office of the Coordinating Minister for Economic Affairs.

He noted that the rebounding global trade would be among the factors contributing to the first-quarter economic growth.

The economy was estimated to have grown by a range of 4.8-5 percent in the first two months of 2010, he said.

Head of the Fiscal Policy Board at the Finance Ministry Anggito Abimanyu meanwhile said the economic growth in the first quarter of 2010 might exceed 5 percent as a result of the improving global trade.

But he added that the government had yet to consider the extent to which the internal factors had contributed to the growth.

"We still use the same assumptions," he said.

The government has set the economic growth rate target for 2010 at 5.5 percent. The target remains unchanged despite a change in macro assumptions such as oil prices and rupiah`s exchange rate against dollar. (*)