Indonesian finance minister deplores IMF's 2010 economic growth projection

Indonesian finance minister Sri Mulyani deplored Tuesday the country's 2010 economic growth projection conveyed by the International Monetary Fund (IMF).

Commenting on IMF's projection on Indonesia's economic growth next year, the minister said that IMF's estimation was too low.

"IMF was never correct in forecasting Indonesia's economic growth," Sri was quoted by the Detik.com as saying.

The minister who serves her second period in President Susilo Bambang Yudhoyono's administration recalled that the IMF was incorrect in forecasting Indonesia's economic growth in 2009.

The IMF, she said, initially projected at 2.5 percent and eventually was corrected to 3 percent and later on corrected again to 4 percent.

"But the country's economic growth turned out to be at 4.3 percent, after it initially forecasted at 2.5 percent," Sri Mulyani said.

Sri pointed out that government is still adamant with its 5.5 percent economic growth target in 2010 and 4.3 percent this year as were set in the state budget 2010.

The IMF Indonesia representative Milan Zavadjil conveyed the IMF's economic growth projection in Indonesia on Monday. It estimated that Indonesia's economic growth to reach 4.8 percent in 2010, or far below the government's target.

Source:Xinhua