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JAKARTA: Indonesia needs broad-based tax reform to boost its revenue in the long run so that the country can minimise the impact of spending adjustments and fund its development projects, the International Monetary Fund (IMF) has said.
JAKARTA: Indonesia will launch its own sovereign wealth fund in January next year as the government seeks to attract more investment and support the economy amid the coronavirus pandemic.
JAKARTA: Indonesia’s budget deficit was estimated at 682.1 trillion rupiah (US$46.56bil) in the January-September period, equivalent to 4.16% of gross domestic product (GDP), Finance Minister Sri Mulyani Indrawati said.
RISK aversion dominated globally due to rising coronavirus cases as well as dwindling prospects of US fiscal aid before the US elections. This led investors to flock to the safe-haven dollar – sending the dollar index to a nearly two-week high, up 0.86% to 93.86.
JAKARTA: Indonesia’s central bank kept its policy rate unchanged as it uses other measures, like government bond purchases, to help shore up the economy.
JAKARTA: Indonesia's central bank kept interest rates steady on Tuesday, holding fire for a third straight meeting to avoid adding pressure to a falling rupiah but reiterated its pledge to use quantitative easing measures to support the economy.
JAKARTA: Indonesia’s central bank is expected to keep its benchmark interest rate unchanged today and continue to focus on supporting South-East Asia’s largest economy via quantitative easing, according to analysts in a Reuters poll
The omnibus labour law is good news for the rupiah
THE dollar continued to decline for the second consecutive week, down 0.25% w/w to 93.61, underpinned by persistent upbeat sentiment in global markets, supporting investors’ risk appetite as investors continue to bet on some form of fiscal aid emerging ahead of the US elections.
JAKARTA: The government is looking to raise around 12.1 trillion rupiah (US$810mil) in revenue from stamp duty as the House of Representatives passed a law on Tuesday to increase the stamp duty to 10,000 rupiah for business document deals starting next year.