Indonesia aims for 6 percent growth in 2018
Indonesian President Joko Widodo said his government has set an economic growth target of over 6% in 2018 thanks to a strong growth of investment.
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The target is significantly higher than 5.2% and 5.1% set for 2016 and 2017, respectively.
According to the Indonesia Investment Coordinating Board (BKPM), the investment of the largest economy in Southeast Asia rose to 453.5 trillion IDR (US$34.72 billion) in the first nine months of this year, an increase of 13.4% year-on-year.
BKPM President Thomas Lembong optimistically projected Indonesia’s total investment will reach 594.8 trillion IDR (US$45.5 billion) by the end of this year.
President Widodo also admitted that such target is not easy to achieve, adding that most importantly, investment must grow about 10%.
To date, Widodo’s administration has issued 13 economic reform packages to attract investors.
The World Bank has recently upgraded Indonesia's Ease of Doing Business (EODB) rating from 106th to 91th place thanks to the government's economic reform initiatives.
