Global economic turmoil seems to have an impact on macro Indonesia. Due to global economic shocks, all basic macroeconomic assumptions in the 2012 revised budget misses the target.

Finance Minister Agus Martowardojo

Global economic turmoil seems to have an impact on macro Indonesia. Due to global economic shocks, all basic macroeconomic assumptions in the 2012 revised budget misses the target.



Finance Minister Agus Martowardojo said the realization of economic growth in 2012 will likely only reach 6.3 percent or lower than the revised budget assumptions in the 2012 pegged at 6.5 percent. Meanwhile, inflation is only 4.3 percent, lower than the revised budget assumptions set in 2012 by 6.8 percent.

Deputy Finance Minister Anny Ratnawati adding unlike in 2011 where the realization of economic growth could reach 6.5 percent. the realization of economic growth in 2012 is only 6.3 percent. Cause, "There is a correction in our net export decline," he said on Monday (12/07/2013).

He added that the increase in investment that occurred in 2012 also resulted in higher imports of raw materials / auxiliary and capital goods imports. Hence, Anny says the government needs to look forward to strengthening the relationship investment industry. So the development of future investment needs to consider the availability of raw material components in the country.

Executing tasks (Acting) Head of the Fiscal Policy Office (BKF) Bambang Brodjonegoro added that the realization of economic growth is only 6.3 percent is due to the low absorption of government capital expenditures. "If capital spending could be absorbed properly, our opinion minimal economic growth could reach 6.4 percent - 6.5 percent in 2012," he said.

Record, until the end of the year capital expenditures of only Rp 140.2 trillion or 79.6 percent of the 2012 revised budget ceiling of Rp 176.1 trillion. Whereas in 2011, the capital expenditure could reach 83.6 percent of the budget ceiling in the 2011 revised budget.

Agus added that the realization of the exchange rate also misses assumptions. In 2012 the government set a revised budget assumed an exchange rate of Rp 9,000 per U.S. dollar, but the realization misses to Rp 9.384 per U.S. dollar. During the year 2012 the rupiah depreciated around 6.9 percent over the previous year's average of Rp 8779 per U.S. dollar.

Interest rate on 3-month SPN realization is only 3.2 percent lower than the assumption that 5 percent. Meanwhile, Indonesia's crude oil price realization aka ICP fumble to 112.7 U.S. dollars per barrel, higher than the 2012 revised budget assumption of 105 U.S. dollars per barrel. "Lifting of crude oil also misses a 861,000 barrels per day, lower than the 2012 revised budget assumption of 930,000 barrels per day," said Agus