Indonesian President Susilo Bambang Yudhoyono (SBY) has targeted the domestic economy to grow by 7% (seven percent) at the end of his second five-year term in office in 2014.

“In the next five years we certainly want to increase our economic growth. For example, we want to achieve an economic growth of 7 percent or more in 2014 on assumption that the current global votality will not recur,” he said at a cabinet meeting here on Friday.

If the global financial crisis which started in 2007 did not occur the domestic economy might grow 7 percent, he said.

But because of the global economic meltdown the government had revised downward its economic growth target, he said.

“Because of the global economic crisis we have suffered a setback. In the next five years we want our economy to return to its right track, to grow 7 percent or more to promote the people`s living standards,” he said.
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