Indonesia`s economy to grow over 7 pct in 2010, minister says
Jakarta (ANTARA News) - Indonesia`s economic growth rate is expected to reach a pre-crisis level of over 7 percent in 2010, a senior economic minister said.
"In 2010, we expect the gross domestic product (GDP) will be the same as the pre-crisis level. I think if we have a strong determination we will achieve it," Coordinating Minister for Economic Affairs Boediono said on Wednesday.
The higher economic growth rate was expected to create more jobs and lower the country`s unmployment rate, he said.
The government has set the economic growth rate target at 6.4 percent for this year, hoping it could lower the unemployement rate to less than 9 percent in 2008 and 2009.
The country`s unemployment rate fell to 9.1 percent in August 2007 from 9.8 percent in the previous survey in February 2007 thanks to its strong economic growth.
However, the drop was still far from expectations. The government has set itself a target of lowering the jobless rate to 5.1 percent by 2009 when the country will hold presidential elections.
Chief of the Central Statistics Agency (BPS) Rusman Heriawan said recently the number of jobseekers in the world`s fourth most populous nation grew by an average of 2.5 million in each of the past five years.
"Every one percent of economic growth currently creates only 180,000 jobs, well below the minimum need for 400,000 jobs," he said.
Most of the jobseekers were employed in the nonformal sector like street vendors, he said.
Observers say Indonesia needs to expand its economy by at least 6 percent a year to significantly improve its employment outlook.
The economy grew by 6.32 percent last year, picking up from 5.5 percent a year earlier and slightly exceeding the government-set target of 6.3 percent. (*)
"In 2010, we expect the gross domestic product (GDP) will be the same as the pre-crisis level. I think if we have a strong determination we will achieve it," Coordinating Minister for Economic Affairs Boediono said on Wednesday.
The higher economic growth rate was expected to create more jobs and lower the country`s unmployment rate, he said.
The government has set the economic growth rate target at 6.4 percent for this year, hoping it could lower the unemployement rate to less than 9 percent in 2008 and 2009.
The country`s unemployment rate fell to 9.1 percent in August 2007 from 9.8 percent in the previous survey in February 2007 thanks to its strong economic growth.
However, the drop was still far from expectations. The government has set itself a target of lowering the jobless rate to 5.1 percent by 2009 when the country will hold presidential elections.
Chief of the Central Statistics Agency (BPS) Rusman Heriawan said recently the number of jobseekers in the world`s fourth most populous nation grew by an average of 2.5 million in each of the past five years.
"Every one percent of economic growth currently creates only 180,000 jobs, well below the minimum need for 400,000 jobs," he said.
Most of the jobseekers were employed in the nonformal sector like street vendors, he said.
Observers say Indonesia needs to expand its economy by at least 6 percent a year to significantly improve its employment outlook.
The economy grew by 6.32 percent last year, picking up from 5.5 percent a year earlier and slightly exceeding the government-set target of 6.3 percent. (*)