TEMPO.CO, Jakarta - The Government and the House of Representative's (DPR) Budgetary Board approved to the macro assumptions set for the 2017 State Budget Draft as reported by the Working Committee for Revenue, Deficit and Financing Basic Assumptions.

The agreed macro assumptions have similar numbers with the previous proposal. The only changes made were to the assumptions for economic growth and oil lifting cost.

"Economic growth assumption is agreed at 5.1 percent," member of the working committee Sukiman read the report at the DPR building today, October 25, 2016.

The growth assumption is 0.2 percent lower than the initial target proposed.

Oil lifting target is assumed to be higher by 35,000 bpd compared to the precious proposal. The target is agreed for and set at 815,000 bpd.

Other assumptions include an inflation rate of 4 percent, an exchange rate of Rp13,300 per US dollar, an SPN three-month interest rate of 5.3 percent, global oil price is pegged at US$45, and gas lifting of 1.15 MMBOED.

Meanwhile, the agreed budget deficit assumption is 2.41 percent of the GDP, or Rp330.167 trillion. The amount is unchanged from the government's previous proposal.

VINDRY FLORENTIN