World Bank predicts Indonesia`s 2018 economic growth at 5.2 percent

The World Bank has predicted Indonesia`s economic growth to reach 5.2 percent throughout 2018, which is relatively the same as the government`s projection of 5.14-5.21 percent. "Economic growth is estimated at 5.2 percent this year and in 2019, and gradually increases to 5.3 percent by 2020," World Bank Director for…

Sales purchase Agreements hamper efforts to reduce oil import : Official

Sales purchase agreements between domestic oil contractors and foreign firms may hamper the government’s effort to reduce oil import by requiring state-owned oil and gas holding Pertamina to buy all oil lifting produced by the contractors, an official says. Previously, President Joko “Jokowi” Widodo told Pertamina to buy all oil…

Trade Balance Indonesia: Big Monthly Trade Deficit in July 2018

Suhariyanto, Head of BPS, said Indonesia's trade deficit in July 2018 was actually different from before as the deficit occurred in both the oil & gas and non-oil & gas sector. Usually the deficit only occur in the oil & gas sector. Imports into Indonesia reached USD $18.27 billion in…

Bank Indonesia raises key rate by 25 bps to 5,5 percent

Bank Indonesia (BI) raised its key rate on Wednesday in a move to maintain the competitiveness of the domestic financial market and to rein in swelling deficit in the current account. Following a two-day board of governors meeting, the central bank raised its seven-day reverse repo rate by 25 basis…
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