Indonesian central bank expects 6.3 to 6.7 percent growth

Indonesian central bank forecast Indonesia's economy to expand by 6.3 to 6.7 percent next year, the bank said in a statement on Thursday. Growing investment and household consumption were expected to offset the decline in exports. For this year, the central bank expected the economy to accelerate by 6.3 percent. Indonesian economy grew by 6.17 percent in the third quarter, after rising 6.37 percent in the second quarter and 6.3 percent in the first quarter, according to the national statistic bureau. The central bank said that the inflation was expected to be within its target range of 3.5 to 5.5 percent this year and next year. Indonesia's investment increased 25.1 percent to 81.8 trillion rupiah (some 8.5 billion U.S dollars) in the third quarter from a year earlier, Chairman of the Investment Coordinating Board M. Chatib Basri said. Indonesian Trade Minister Gita Wirjawan said on Wednesday that the country's export was going to fall by 5 percent below the initial target of 203 billion U.S. dollars due to weakening global demand.