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IMF Revises Indonesia's Annual Economic Growth

The International Monetary Fund has revised upwards its forecast for Indonesia's annual economic growth in 2006.

The IMF said Friday that Indonesia's gross domestic product growth is likely to reach 5.2 percent this year, slightly higher than the five percent projected last month.

Stephen Schwartz, the IMF's senior resident representative to Indonesia, said the latest forecast is based on expected economic recovery in the second half of the year. He said interest rates are predicted to ease and the country is also expected to adjust to higher fuel prices.