TEMPO.CO, Jakarta - Finance Minister Bambang Brodjonegoro responded to the World Bank release that lowers Indonesian economic growth from 5.2 percent of the GDP to 4.7 percent. "The World Bank is not the smartest institute. It does not know our situation," said Minister Bambang on Wednesday, July 8, 2015.
The government is optimistic that economic growth rate in 2015 can reach five to 5.2 percent. Bambang himself is confident that the number will reach 5.2 percent.
Rodrigo Chavez, World Bank Representative for Indonesia said that Indonesia's difficult condition came from low-price commodity and decreased investment. Chaves said that Indonesia can escape the economic slowdown by improving infrastructure expenses and maintaining fiscal deficit within the three percent mark of the total GDP.
"Improving infrastructure will help cut logistics costs, price, and services, thus boosting economic growth and equality," said Chaves.