Aryanews- Indonesian President Susilo Bambang Yudhoyono said Tuesday he forecasts that the value of the country's budget would double to over 2,000 trillion rupiah (some 215 billion U.S. dollars) in 2014 from this year's budget, as the economic growth will accelerate faster.
Yudhoyono has targeted the economic growth in 2014 at at least 7 percent. Indonesia's gross domestic product is seen to reach 5.5 percent this year after registering 5.4 percent in the last quarter of 2009. "As the economy keeps growing, even during the global recession, the value of our state budget will also grow. I am certain that our budget value will double in 2014 to over 2,000 trillion rupiah, " he said at Ritzt Carlton hotel here.
The president noted that the country's budget value has been growing since years ago. He said that five years ago, the budget value was only 400 trillion rupiah (about 43 billion U.S. dollars) and now is about 1,000 trillion rupiah (some 107.5 billion U.S. dollars)
Indonesia's economy grew at more than 4 percent in the first and the second quarters of 2009, when the global crisis took place. "Our economy has survived from the recent global economic crisis," said Yudhoyono.
Indonesia's exports are predicted to rebound at over 8.5 percent this year after reaching 116.5 billion U.S. dollars in 2009, the Trade Minister said.
Indonesia's rating has been raised by Fitch, and Moody investors to one notch under investment grade recently.