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IMF: Indonesia needs broad-based tax reform to boost state revenue
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.
Indonesia to launch sovereign wealth fund soon
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.
Indonesia 9-month fiscal deficit at 4.16% of GDP
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.
Global Forex Market
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.
Indonesia holds rate as it focuses on debt purchases
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.
Indonesia c.bank holds rates, stresses QE for economic support
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.
Bank Indonesia expected to stand pat on interest rates
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
New Indonesian law boosting laggard currency
The omnibus labour law is good news for the rupiah
Treasury Pulse - Forex, US Treasuries, Bonds, equities,
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.
Indonesia eyes US$810mil from stamp duty hike
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.
