President Susilo Bambang Yudhoyono has targeted the domestic economy to grow by seven percent at the end of his second five-year term in office.

“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.

The president went on to say that in the next five years he also would encourage the creation of good governance by continuing bureaucratic reforms.

He also paid attention to evenly distribution of development gains by emphasizing that all parties and regions had equal rights to development programs.

He underscored the need for regional governments, particularly governors, regents and mayors to cooperate with the central government in implementing development programs.

To that end, the home affairs minister should intensify communication between the central government and regional administrations, he said.

Source: Antara