JAKARTA, Nov 4 – Finance Minister Sri Mulyani Indrawati expressed the view here on Tuesday that the International Monetary Fund (IMF)’s projection of 4.8 per cent for Indonesia’s economic growth in 2010 was “very low”, Indonesia’s Antara news agency reported.

“IMF’s prediction is very low but then the fund can sometimes make a mistake,” Sri Mulyani said after attending a meeting with a number of cabinet ministers at the Finance Ministry’s main building on Lapangan Banteng street here on Tuesday. S

ri Mulyani on the occasion pointed out that IMF’s projection of Indonesia’s economic growth in the first semester of 2009 was 2.5 per cent but in reality it had reached 4.1 per cent. Indonesia’s overall economic growth in 2009, according to IMF’s projection, would reach 4.0 per cent but according to the government’s projection it would be 4.3 per cent.

“Our economic growth target for this year remains 4.3 per cent, and next year, in accordance with the 2010 state budget, it should be 5.5 per cent,” the finance minister said.

IMF had earlier projected Indonesia’s gross domestic product (GDP) in 2010 could reach 4.8 per cent, and the country would be able to come out of the global recession.

“It is proven from a positive GDP growth in 2009 and later in 2010 it is expected to reach 4.0 to 4.8 per cent,” IMF senior representative for Indonesia Milan Zavadjil said.

Zavadjil said IMF’s prediction for Indonesia’s economic growth was that it would reach 4.0 per cent by the end of this year because it was supported by development in the export sector.

He said the positive economic growth was in line with global economic growth which has started to pick up after the global crisis.

To maintain Indonesia’s economic growth in accordance with the projection, IMF advised the government to go ahead with monetary and fiscal stimulus programmes while continuing domestic spending until the economy had fully recovered. – Bernama