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 points (bps) to 5.5 percent. […]
Read MoreThe Energy and Mineral Resources Ministry opened on Monday tenders for six oil and gas blocks, three of which are onstream sites. The onstream blocks are South Jambi B in Jambi, Makassar Strait in South Sulawesi and Selatpanjang in Riau. The three blocks went straight to auction as the current operators will not extend their contracts. […]
Read MoreTEMPO.CO, Jakarta – Bank Indonesia said it is confident it would be able to keep the country`scurrent account deficit below 3 percent by the end of this year. By the end of the first half of the year the current account deficit already reached 2.6 percent of the country`s Gross Domestic Product (GDP). “Until the end of the year we are confident the deficit could be kept below 3 percent,” Executive Director of Statistic Department of the Central Bank Yati Kurniati told reporters on Friday. […]
Read MoreTEMPO.CO, Jakarta – Today, Rupiah has weakened to Rp14,600 per USD. The head of the National Planning and Development Agency (Bappenas) Bambang Brodjonegoro said it was caused by the investor consolidation due to the exchange rate depreciation of the Turkish currency, Lira. “Indonesia and Turkey are considered as emerging markets, so in these initial stages, there must be some kind of consolidation […]
Read MoreThe government has said it would monitor fundamental indicators of the economy – as renewed pressures stemming from Turkey reverberated throughout emerging markets – while emphasizing its priority to narrow the current-account deficit (CAD). Finance Minister Sri Mulyani Indrawati said the government would monitor the implementation of the state budget and balance sheets of state-owned […]
Read MoreThe government has issued 7,004 business permits through the online single submission (OSS) system within its first month of operation, a senior official said on Thursday. The OSS data was collated through 7:30 p.m. on Wednesday, said Susiwijono, the secretary to the Coordinating Economic Minister. official said. “We have issued 304 business permits per day, including Saturdays and Sundays,” Susiwijono […]
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