Indonesian board to support 8.3-pct investment growth target for next year

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Indonesian board to support 8.3-pct investment growth target for next year

Indonesia’s Coordinating Investment Board (BKPM) was upbeat about doing better in achieving the investment growth target for 2019 after it received auditing results from the Supreme Audit Agency (BPK).

“We would surely regard this as a reminder to perform better,” BKPM Chairman Thomas Lembong said on Tuesday when receiving an Unqualified Opinion status from BPK over its 2017 financial report.

The latest BPK’s Unqualified Opinion has proved BKPM’s relentless efforts in transparently managing funds allocated from the state budget, Thomas said.

“2018 marked the third year of application of actual-basis accounting financial report for ministries and state agencies, a concrete government’s move to improve the quality of state financial management,” Finance Minister Sri Mulyani Indrawati said in a written statement.

The minister said earlier that Indonesia’s investment was expected to grow up to 8.3 percent next year with improved business climate.

The minister hinted that factors leading to the estimated investment growth for next year were seen in sound investment growth of 7.95 percent in the first quarter this year, the highest since 2014.

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Read more: $10 billion in foreign direct investment after investment-grade status

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The government would issue more economic reform packages to counter the anticipated internal and external challenges next year.

Other than investment, the minister has also projected the growth in exports and consumption sectors at 7.2 percent and 5.2 percent respectively for next year.

Indonesia has set a target of up to 5.8 percent economic growth for next year, higher than the 5.4 percent projected for this year. The Southeast Asia’s largest economy posted a 5.07-percent growth last year.

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Read also Indonesia’s economy improvements are set to accelerate in 2018

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