Ministry of Finance of Republic of Indonesia : These are Temporary Realization of 2016 Macro Economy

Jakarta, 03/01/2017 MoF - The government affirms that 2016 State Budget has been managed in a credible, efficient, and sustainable way. Despite the global economy that remains uncertain, the 2016 State Budget was considered in secured level. Today (03/01) The Minister of Finance Sri Mulyani Indrawati delivered the realization of macroeconomic indicators for 2016 (temporary) in a press conference.

Economic growth reached 5 percent compared the target in Revised State Budget (APBN-P) of 5.2 percent, better than the previous year's of 4.8 percent. Inflation was 3.1 percent or lower than the target at 4 percent. With a controlled inflation, economic stability was also reflected in the average rupiah exchange rate which rose to IDR13,307/USD compared to the target of IDR13,500/USD in APBN-P.

Meanwhile, 3 months-Government Treasury Bill reached 5.7 percent, higher that the target of 5.5 percent. Oil price realization was USD40/barrel in accordance with the target set. For oil lifting, the realization was 829 thousand barrel/day, increase slightly from the target of 820 thousand barrel/day. As for gas lifting, it reached 1,184 thousand barrel of oil equivalent /day compared to target of 1,150 thousand barrels of oil equivalent / day.

Indonesia keeps its commitment on a comprehensive economic reform, consisting of first, structural reform to improve investment climate and maintain people purchasing power; second, budget reform to formulate fiscal policy and a credible State Budget, provide certainty and sustainability; third, providing an accommodative monetary policy and stability. (as/rsa)