Govt Sets Macro-Economic Assumptions for 2015 State Budget

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  • Menkeu Chatib Basri. ANTARA FOTO/Andika Wahyu

    Menkeu Chatib Basri. ANTARA FOTO/Andika Wahyu

    TEMPO.CO, Jakarta – The House of Representatives’ (DPR) Budgetary Committee and the government have agreed on the macro-economic assumptions for the 2015 draft state budget, which include economic growth, inflation, interest rate and the rupiah exchange rate. 

    “This is good. Even though the budget is baseline, we’ll try to reduce deficit from 2.32 to 2.21 percent,” said Finance Minister Chatib Basri on Monday.

    The agreed macro-economic assumptions include economic growth of 5.8 percent, which is higher than government’s proposal of 5.6 percent in the financial note. Inflation, meanwhile, is agreed at 4.4 percent and the rupiah exchange rate at Rp11,900 per US dollar.

    Indonesia’s crude oil price is set at US$105 per barrel. From the energy sector, oil lifting is pegged at 900,000 barrels per day and gas lifting at 1,248,000 barrels per day.

    Subsidized oil consumption volume is agreed at 46 million kiloliters, which is the same as in the 2014 revised state budget—despite the government's proposing 48 million kiloliters in the financial note.