Indonesia Raises 2012 GDP Growth Forecast to as Much as 7%

Indonesia’s government raised its forecast for the economy’s expansion next year on rising exports and investments.

Gross domestic product may increase as much as 7 percent next year, Melchias Mekeng, head of the parliament’s budget committee, said today after deliberations were completed. That compares with a projection of as much as 6.9 percent in May. Consumer prices may rise 4 percent to 5.3 percent in 2012, compared with an earlier range of 3.5 percent to 5.5 percent, he said.