(JAKARTA) Indonesian President Susilo Bambang Yudhoyono said last Friday that his new economic team was aiming to achieve 7 per cent growth by the end of his final term in office.
On the first full day at the helm of his new cabinet, which was sworn in last Thursday, Dr Yudhoyono promised to return South-east Asia's biggest economy to pre-crisis growth levels by 2014.
'In the next five years of course we want to improve our economic achievements . . . We want to reach 7 per cent or more (growth) by 2014 with the assumption there aren't global fluctuations like there are now,' he said.
Dr Yudhoyono said that his government had yet to work out the details of its plans but promised 'development that is inclusive and just' and to reduce poverty in the mainly Muslim archipelago of 234 million people.
The government has predicted growth of 4-4.5 per cent this year, third only to China and India in the G-20 club of rich and major developing countries. The economy grew 6.1 per cent in 2008.
The local stock market has soared almost 80 per cent in 2009, but about half the population continues to live on less than US$2 a day, according to the Asian Development Bank (ADB).
Addressing the inaugural session of the new cabinet, Dr Yudhoyono said that 7 per cent growth could have been reached this year but for the impact of the global downturn on the domestic economy.
Dr Yudhoyono's new coordinating minister for the economy, Hatta Rajasa, earlier said that while the government was aiming for 7 per cent growth by 2014, a longer-term 8 per cent target was 'achievable'. -- AFP
Source : Business Times, 26.10.09.
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