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Indonesia's financial minister revises down growth assumption in 2017 budget

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Indonesia's finance minister told parliament on Friday the 2017 state budget will assume economic growth of between 5.3 per cent and 5.9 percent for the year, slightly lower than the government's initial forecast of 5.5 percent to 5.9 percent.

[JAKARTA] Indonesia's finance minister told parliament on Friday the 2017 state budget will assume economic growth of between 5.3 per cent and 5.9 percent for the year, slightly lower than the government's initial forecast of 5.5 percent to 5.9 percent.

In his first speech on next year's budget, Bambang Brodjonegoro did not provide a reason for the change in the growth outlook.

The central bank on Thursday trimmed its outlook for growth in 2016 to 5.0-5.4 per cent after first-quarter growth came in below forecast.

Mr Brodjonegoro told Reuters on Thursday he remains optimistic South-east Asia's largest economy can grow 5.3 per cent this year.

REUTERS