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Indonesian president vows to reach 5.6 percent GDP growth target next year

Xinhua, April 4, 2017 Adjust font size:

Indonesian President Joko Widodo said on Tuesday that he wants the country's gross domeestic product to expand 5.6 percent next year from 5.1 percent government's target of this year.

President Widodo told a cabinet meeting that the goal could be reached by rising shipment of products overseas and boosting efforts to spur investment into the country.

"We have set a target of the growth in 2018, we want 5.6 percent," he said at the State Palace.

President Widodo asked authoritiers to find new export markets for the country's products, and continue deregulation programs to help luring foreign capitals.

Indonesia is the world's biggest exporter of thermal coal and crude palm oil, and the world's third biggest exporter of rubber and cocoa, as well as home to the world's second-biggest copper mine.

Thanks to rising global oil price which helps hiking prices of commodities, Indonesia's main exported products.

The government has struggled to create a better clcimate for invesment by unveiling a series of economic stimulus packages since September 2015, inclduing deregulation, incentives, simplification in business licesing and bureacracy.

President Widodo who came into office at the end of 2014 has set over 7 percent GDP growth at the end of his five-year term. Endit