RI eyes 7 percent economic growth, with reductions in poverty, unemployment rates

Erwida Maulia, The Jakarta Post, Jakarta | Thu, 10/29/2009 2:15 PM

Getting advice: Getting advice: President Susilo Bambang Yudhoyono speaks during the opening of the National Summit in Jakarta on Thursday. JP/R. Berto Wedhatama

Indonesia is targeting an economic growth of 7 percent and to reduce its unemployment and poverty rates by up to 5 and 8 percent respectively by 2014, President Susilo Bambang Yudhoyono said here Thursday.

Yudhoyono said, as he opened the two-day National Summit, the targeted economic growth was expected to help create jobs and thus reduce the unemployment rate from the current 8 percent to between 5 and 6 percent by 2014.

"And with hard work, we are aiming to cut the poverty rate from the current 14 percent to between 8 and 10 percent [by 2014]," he said, before 14,000 summit participants.

He said that investment was needed so as to enable the economic growth and, in order to reach the 7 percent target, Indonesia required a total investment of about Rp 2,100 trillion (US$219 billion) per year for the next five years.

Financing would be prioritized from the domestic private sector as well as from government spending.

"If that is still not enough then we will partner with our friends from other countries," Yudhoyono said.

Related Articles:

Indonesia Needs Investment of Rp2.1 Trillion

'Any spirits here?'

IMF raises forecasts for Asia's economic growth

Indonesian consumers more optimistic about the future

Yudhoyono Opens Indonesian National Summit By Thanking Nation's Media

Govt preparing national-scale summit