Indonesian gov't expects 6.4 pct growth in Q4

The Indonesian government expected economy to expand by 6.4 percent in the final quarter, supported by investment, consumption and government spending, a minister said here on Saturday. Indonesian Coordinating Minister for Economy Hatta Rajasa said that he expected the economy to grow by at least 6.3 percent this year. "Our target is 6.4 percent at the fourth quarter," he told Xinhua at the State Palace. The government spending regularly peaks at the last quarter. Indonesia's economy accelerated by 6.17 percent in the third quarter after growing by 6.37 percent and 6.3 percent in the first two quarters respectively, according to the national statistic bureau. The central bank said on Thursday that it expects the inflation to be in the range of 3.5 percent to 5.5 percent this year and next year. Inflation edged up 4.61 percent in October from a year earlier, the bureau reported. Indonesian investment increased significantly by 25.1 percent to 81.8 trillion rupiah (some 8.5 billion U.S dollars) in the third quarter on yearly basis, Chairman of the Investment Coordinating Board M. Chatib Basri, said. Moody's and Fitch's have raised Indonesia's credit rating to investment grade, which will help luring foreign funds to flow into the country.