REPUBLIKA.CO.ID, JAKARTA -- The Indonesian government plans to accelerate economic growth to reach eight percent by 2019 and control inflation at 3.5 percent.
The government has put the goal in its official 2015-2019 Midterm National Development Plan (RPJMN) recently signed by President Joko Widodo.
"The Gross Domestic Product is expected to grow from 5.8 in 2015 to 7.1 percent in 2017 and 8.0 percent in 2019," the cabinet secretariat stated on its website on Thursday quoting the attachment of the Presidential Regulation Number 2, 2015 on the 2015-2019 RPJMN signed by President Joko Widodo on January 8.
Based on the plan, the investment need in 2015 reaches Rp3,945 trillion and it will increase by Rp5,188 trillion in 2017 and by Rp6,947 in 2019.
The government meanwhile expects inflation to reach 5.8 percent in 2015 and to later drop to 4.0 percent in 2017 and 3.5 percent in 2019.
Finance minister Bambang Brodjonegoro at the National Development Plan 2014 Meeting on December 18 expressed optimism that the country's economy could grow by 7 percent in 2017 by accelerating the improvement of its economic fundamentals.
The improvement would strengthen national economic resilience to meet global as well as domestic pressures in the next few years, he said.
He said "we must continue to improve the economic fundamentals, reduce problematic credit ratio, fiscal deficit and current account and through the efforts it is possible to make the economy to grow 6 percent in 2916 and 7 percent in 2017."
According to the President Regulation on RPJMN, national development programs will be prioritized for achieving sovereignty in food, energy supply as well as maritime as well as fisher resource management for the next five years.
The government is also committed to leading the development efforts to increase sustainable welfare by reviving the people's spirit of solidarity and living harmoniously between social groups in the country.
The government wishes the economic posture will be matched with quality economic growth meaning the economy must grow inclusively and have wide bases and is based on superior human resource, science and technology.
The quality growth will be achieved along with the achievement of a balance between economic sectors and regions to reflect harmonious relationship between men and their environment.
In the first year of 2015, the development agenda is aimed at developing the foundation for accelerating sustainable development programs in the coming years.
"It is aimed at meeting the urgent basic needs of the people," according to the regulation.
For the next five years of development the government wishes to lay a strong foundation for further development process.
"So, the strategy for midterm development is producing growth for the prosperity of the people sustainably," the presidential regulation states.
The 2015-2019 RPJMN is a vision, mission and agenda of President Joko Widodo and Vice President Muhammad Jusuf Kalla based on a technocratic design arranged by the National Development Planning Board and based on the National Long-Term Development Plan of 2005-2025.
Ikuti Whatsapp Channel Republika