The Straits Times
Published on Nov 06, 2012

Indonesia sees 2012 GDP growth at 6.3%, lower than target


JAKARTA (REUTERS) - Indonesia expects this year's economic growth in South-east Asia's biggest economy to hit 6.3 per cent, slower than a year ago, due to an uncertain global economy, a senior official said on Tuesday.

The growth projection is also slower than the state budget's 2012 target of 6.5 per cent.

"Frankly speaking, 6.5 per cent growth is hard to achieve as it means that we need to post 7 per cent growth in the fourth quarter, and that is hard. Though, I think 6.3 per cent growth is likely achievable," Chief Economic Minister Hatta Rajasa told reporters.

Indonesia's economy grew 6.2 per cent in the third quarter this year, as buoyant domestic demand and strong investment offset weak exports, the country's statistics bureau said on Monday.