Indonesian economy to grow 5.7-6% in 2014

Indonesian finance ministry forecast the country's economy to expand by 5.7 to 6 percent this year, Deputy Finance Minister Bambang Brodjonegoro said here on Friday. He said the government would strive to boost investment to offset the decline in consumption and export. "We push up investment as the capital inflows rather slowed last year," he added. The ministry's forecast exceeds the central bank's revised gross domestic product (GDP) growth projection of 5.5 to 5.9 percent this year, as against its previous estimation of 5.8 to 6. 2 percent. On Thursday the bank kept its benchmark interest rate unchanged at 7.5 percent as inflation pressure eases. The Indonesian economy expanded by 5.78 percent last year.