Indonesia's economic growth projected at 5.2-5.3% in 2014

Indonesia's GDP is forecast to range from 5.2 percent to 5.3 percent this year, lower than the assumption at the revised stated-budget of 5.5 percent as economic growth slowed in the second quarter, Deputy Finance Minister Bambang Brodjonegoro said here on Friday.
The Indonesian economy expanded by 5.21 percent at the first quarter and slowed to 5.12 percent in the three months through June.
"We are trying to be realistic to see the condition of the economy. Should the economy grow faster we will be happy," Bambang said.
The deputy minister foresaw there would be improvement in economic growth in the rest of the year though it would not be significant.
"In the second half, hopefully the growth can accelerate faster by 5.3 percent," Bambang said.
The expected economic growth was contributed to increase in export which is supported by the resumption of mineral concentrate export.
The government has allowed three mining companies, including U. S. giant Freeport McMorant copper and gold company's Indonesia subsidiary, to restart shipment of mineral concentrates overseas as they have shown serious commitment to build smelters and comply with rules.
The Indonesian central bank has decided to keep a tight monetary policy this year by holding its benchmark interest rate at 7.5 percent, according to Agus Martowardojo, governor of the bank.
Indonesian President Susilo Bambang Yudhoyono said forecast that the economy would grow by 5.6 percent next year.
Economic growth stood at 5.78 percent in 2013, 6.2 percent in 2012, 6.5 percent in 2011 and 6.2 percent in 2010.