INDONESIA’S foreign trade surprisingly swung back to a surplus in May, against market expectations of a US$1.38 billion deficit, spurring some hopes for improvement in the country’s trade outlook despite the Sino-US trade war. South-east Asia’s largest economy had a US$207.6 million surplus for May, the statistics bureau said on Monday, as imports dropped near […]
Read MoreA number of bankers have acknowledged that they favor state-owned enterprises (SOEs) when disbursing loans, with SOEs accounting for almost 30 percent of funding recipients, the maximum quota allowed by the Financial Services Authority (OJK). The lenders claim that the loans were largely disbursed to finance the government’s infrastructure projects across the country. State-owned lender […]
Read MoreFinance Minister Sri Mulyani Indrawati has expressed concern about a slowdown in tax revenue this year. By the end of May, the state had collected Rp 727.7 trillion (US$51.52 billion) from taxes and customs, or 31.9 percent of the full-year target stipulated in the 2019 state budget. That marked a year-on-year (yoy) increase of only […]
Read MoreDirect flights between Cambodia and Indonesia officially began on Friday, and the Kingdom expects to attract more tourists from the world’s largest Islamic country. A Citylink plane landed at Phnom Penh International Airport on Friday afternoon with 67 passengers. Citilink, a subsidiary of Indonesia’s Garuda Airlines, will operate direct flights between Jakarta and Phnom Penh […]
Read More[JAKARTA] Indonesia’s foreign trade surprisingly swung back to a surplus in May, against market expectations of an US$1.38 billion deficit, as imports dropped near the end of the Muslim fasting month, government data showed on Monday. South-east Asia’s largest economy posted a US$207.6 million surplus in May, the statistics bureau said. This followed a trade […]
Read MoreThe Energy and Mineral Resources Ministry and House of Representatives Commission VII, which oversees energy policy, have agreed to assume an Indonesian Crude Price (ICP) of US$60 per barrel for the 2020 state budget. The decision was made at a recent hearing, in which the two parties also agreed on the oil and gas lifting […]
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