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Indonesia upbeat on economic recovery in 2nd half of year

Xinhua, July 27, 2015 Adjust font size:

An Indonesian senior official said on Monday that he is upbeat to see economic recovery in the second half of this year on the back of more budget spending and acceleration of project implementation.

Agus Martowardojo, Indonesia's central bank governor, said the government has issued stimulus policies aimed at facilitating efforts to recover the economy so as to reach the growth target set for this year.

"The public works and public housing ministry has settled almost 93 percent of its project tenders at this moment. Our project programs for rural areas have also been progressing as well," Agus said.

As of the first half of this year, the Indonesian government has spend around 30 percent of 2,200 trillion rupiah (about 163 billion U.S. Dollars) of the state budget allocated for this year, official figures showed.

The nation posted a-4.71 percent growth in the first quarter of this year, lower than the 5.2-percent growth rate it recorded in the same period last year.

The government estimated that growth in the second and third quarters this year would reach 5.2 and 5.3 percent respectively. Endi