(Insider Stories) – Pres. Susilo Bambang Yudhoyono has said that Indonesia’s gross domestic product will likely reach US$5,000 per capita next year, reducing the poverty rate.

Yudhoyono noted in a state of the nation address at the House of Representatives on Friday ahead of the 68th anniversary of the independence of Indonesia that the projection is based on growth between 2004 and last year: in GDP per capita was US$1,117 in 2004 and increased to US$2,299 in 2009, and is estimated to have risen to US$3,592 in 2012, reflecting productivity increases.

“Our economy is growing at a rate of 5 or 6 percent, the business sector is growing and we can also decrease unemployment and poverty,” he said. Higher state revenue levels will allow the government to maintain expenditure and keep the budget deficit below 3%, he added.

Official data classified 11.37% of the population as living in poverty as of March, a reduction from 16.6% in 2004, while unemployment had fallen to 5.92% by February this year from 9.89% in 2004.

Yudhoyono added that there are four major priorities for Indonesia going forward: the importance of being able to manage the economy amid uncertain global economic conditions with many countries remaining in crisis; national tolerance and harmony; the importance of organizing successful elections next year; and national succession and the importance of maintaining the country’s sovereignty.

Yudhoyono said that Indonesia is not only developing its profile regionally but also on the world stage – the country will host the APEC CEO forum on Bali island this October, as well as hosting the World Cultural Summit and World Trade Organization at the ministerial level.