Govt submits 2012 macroeconomic assumptions to House

The government has submitted to the House of Representatives its macroeconomic assumptions for the 2012 fiscal year, including expected economic growth of between 6.5 and 6.9 percent.
Inflation is expected to be between 3.5 and 5.5 percent, the three-month SPN (treasury bill) rate would be between 5.5 and 7.5 percent, and the rupiah will be between 9,000 and 9,300 per US dollar, Finance Minister Agus Martowardodjo told a House plenary session on Friday.
Crude oil prices have been set at between US$75 and $95 per barrel, while oil lifting would be between 950,000-970,000 barrels per day.
"To reach the economic growth expansion and acceleration targets, we will first push growth in [outer] regions through the development of the economic corridors.
“Second, [we will] boost infrastructure developments to support inter-region connectivity, and third, [we will] push for more rapid developments in Papua and West Papua," Agus said.
"The increase in volume of 2012 state spending ... will be supported by measures to increase state revenue, either that from taxes or non-tax elements," he said.