09:12 | 29/06/2015 Global Economy
The Indonesian government has lowered its economic growth for 2016 to 5.5 – 6 percent, from the previous target of 5.8-6.2 percent.
Indonesia lowers economic growth target to 5.5 percent (Illustrative image. Source: born2invest)
Finance Minister Bambang Brodjonegoro said the adjustment was based on the country’s economic prospect next year and the weak economic growth target in 2015.
The World Bank (WB) and the International Monetary Fund (IMF) also altered their forecast for the country’s economic outlook to 4.7 percent in 2015, compared to 5.2 percent predicted earlier.
The two organisations also estimated the Indonesian economy, which grew 4.7 percent in the first quarter, the lowest since 2009, would remain weak until the end of the year./.