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Fuel prices lowered, again Indonesians will enjoy lower fuel, cooking gas and cement prices next week, yet prices of other goods and services may not immediately follow suit as business struggle with a weakening currency and high distribution costs.

Posted in Economy @ 17 January 2015 01:23 CET by Jeroen · permalink · 0 reactions


Bank Indonesia maintains benchmark interest rate at 7.75% Bank Indonesia announced on Thursday it decided to maintain its benchmark interest rate (BI rate) at 7.75 percent with lending facility interest rate at 8 percent and deposit facility at 5.75 percent.

Posted in Economy @ 15 January 2015 20:34 CET by Blog Bot · permalink · 1 reaction


Indonesian inflation in 2014 down slightly to 8.36% Indonesia succeeded in controlling its inflation down to 8.36 percent in 2014 despite recent cut in subsidies on energy.

Posted in Economy @ 02 January 2015 11:36 CET by Blog Bot · permalink · 0 reactions


Indonesia requires additional 100 thousand MW electricity Trade Minister Muhammad Lutfi stated that Indonesia still needed additional 100 thousand MW electricity to support industrial development at home.

Posted in Power supply @ 04 September 2014 19:57 CET by Blog Bot · permalink · 0 reactions


Indonesia aims for economic growth of 5.6% in 2015 The government has proposed an economic growth of 5.6 percent in the Draft 2015 State Budget, considering the improvement in economic fundamentals and economic stability as well as conducive external factors.

Posted in Economy @ 16 August 2014 00:23 CET by Blog Bot · permalink · 0 reactions


BI: economic slowdown in Q2 in line with stabilization scheme Indonesias economic slowdown in the second quarter of this year was in line with macro-economic stability policy adopted by the government and Bank Indonesia aimed especially to control inflation and current account deficit, the central bank said.

Posted in Economy @ 06 August 2014 10:09 CET by Blog Bot · permalink · 0 reactions


28.3 million Indonesians live in poverty More than 28.28 million Indonesian people live in poverty as of March 2014 compared to 28.17 million in the same period last year, according to the Central Statistics Agency (BPS). "It was the result of a shift in the number of people working in the agricultural sector due to the impact of climate change, which had led to belated harvest," BPS Chief Suryamin said here on Tuesday.

Posted in Economy @ 01 July 2014 22:50 CET by Blog Bot · permalink · 0 reactions


Indoensia's inflation may reach 9 percent Indonesia's inflation may jump to 9 percent this year under the impact of the recent rise in the prices of subsidized fuel oils, World Bank economist Ndiame Diop has predicted. "The higher fuel prices will first have a greater impact on the inflation rate by increasing average annual inflation rate in 2013," he said here on Tuesday.

Posted in Economy @ 02 July 2013 17:08 CET by Blog Bot · permalink · 0 reactions


VP instructs ministers to maintain food price stability Vice President Boediono has instructed relevant ministers and officials to maintain food price stability in the face of subsidized fuel price hikes and the fasting month of Ramadhan.

Posted in Politics @ 18 June 2013 23:30 CET by Blog Bot · permalink · 0 reactions


House plenary enacts bill on revised budget into law The House of Representatives finally enacted the Bill on the 2013 Revised State Budget into law through a voting mechanism in its plenary session here on Monday night.

Posted in Politics @ 18 June 2013 01:55 CET by Blog Bot · permalink · 0 reactions


Govt urges DPR to accelerate discussion on budget revision The government has urged the House of Representatives (DPR) to accelerate the discussion of the draft revision of the 2013 state budget so that fuel price hike could be immediately implemented.

Posted in Politics @ 29 May 2013 00:13 CET by Blog Bot · permalink · 0 reactions


Bankers optimistic about economic growth Most bankers in Indonesia are optimistic the country`s economy would grow strongly in 2013 despite global uncertainties, a survey says. The survey by Price Waterhouse Coopers (PwC) Indonesia said 87 percent of respondents said the country`s economy would post a stable growth with moderate inflation in 2013.

Posted in Economy @ 30 April 2013 22:39 CET by Blog Bot · permalink · 0 reactions


Electricity rate hike to weaken laborers' purchasing power An increase in the price of electricity beginning this month will reduce the purchasing power of laborers, Said Iqbal, the president of the Indonesian Workers Unions Confederation (KSPI) said.

Posted in Economy @ 03 January 2013 17:19 CET by Blog Bot · permalink · 0 reactions


Statistics agency: Number of poor population down The number of poor population in Indonesia drops by 0.54 million or 540,000 until September 2012, according to the National Statistic Agency (BPS).

Posted in Economy @ 02 January 2013 23:59 CET by Blog Bot · permalink · 0 reactions


President: 'Indonesia to raise civil servants` salaries by 7%' President Susilo Bambang Yudhoyono said the government would increase the basic salaries of civil servants, military and police personnel by seven percent in 2013.

Posted in Economy @ 16 August 2012 22:05 CET by Blog Bot · permalink · 0 reactions


Bank Indonesia: 'Bank credit grows 26 percent' Bank credit grew 26 percent in April year-on-year, beating earlier estimates of 23-24 percent. Central bank deputy governor Halim Alamsyah said here on Monday that such growth indicated that the domestic economy was doing well.

Posted in Economy @ 07 May 2012 13:41 CET by Blog Bot · permalink · 0 reactions


Indonesia's Q1 economic growth to reach 6.5 percent Despite the global financial crisis, economic growth in Indonesia is estimated to reach 6.5 percent in the first quarter of 2012, according to Bank Indonesia (BI).

Posted in General @ 08 March 2012 17:29 CET by Blog Bot · permalink · 0 reactions


Indonesia to lower economic growth target Indonesia will revise downward its growth target for the 2012 budget from 6.7 percent to 6.5 percent, Finance Minister Agus Martowardojo has said.

Posted in Economy @ 07 March 2012 14:16 CET by Blog Bot · permalink · 0 reactions


Economist: Raising fuel price more realistic Raising the present gasoline price will be a more realistic policy than the government's plan to limit subsidized fuel oil consumption to reduce its subsidy burden, an economist here said.

Posted in Economy @ 24 January 2012 01:25 CET by Blog Bot · permalink · 0 reactions


Thousands of Telkomsel workers go on strike in Indonesia Thousands of Telkomsel workers in Indonesia went on strike on Thursday to demand improved labor benefits, local media reported.

Posted in General @ 10 November 2011 22:32 CET by Blog Bot · permalink · 0 reactions


Government moving to check rising food costs In an urgent step to curb inflationary food prices the Indonesian government will abolish value-added taxes and import duties on a number of food products.

Posted in Economy @ 12 January 2011 03:55 CET by Jeroen · permalink · 0 reactions


Indonesia claws its way to economic superpower status Indonesia is one of the "rising stars" of emerging Asia and some economists believe this vast nation will one day become a regional superpower, behind only China and India, as global economic activity increasingly shifts towards east Asia, away from the faltering developed nations of the west and Japan.

Posted in Economy @ 03 October 2010 03:29 CET by Jeroen · permalink · 0 reactions


Indonesian rains to continue all year Unseasonally heavy rains will continue across Indonesia for the rest of this year, officials from the country's state weather agency said on Wednesday, after rains have damaged crops, hampered miners and boosted inflation.

Posted in Weather @ 15 August 2010 05:59 CET by Jeroen · permalink · 0 reactions


Higher toll road tariffs from tomorrow Starting tomorrow, higher tariffs of toll roads will become effective. The first increase in two years - according to laws that allow price increases once every two years to correct for inflation and increased operational costs - will be some 30 percent. A price hike was planned for earlier this month, but because of the Ramadan month of fasting and the following busy travel period, the increase was delayed.

Posted in Economy @ 27 September 2009 05:44 CET by Jeroen · permalink · 0 reactions


Toll on Indonesia's highways to increase The state roll road management agency in Indonesia (BPJT) has announced that three of the largest toll road operators in the country have asked to be allowed to increase their tolls with some 12 to 19 percent this year. Toll rates are allowed to rise every two years. If the agency agrees with the new prices, they will come into effect as soon as September 4, 2009.

Posted in Economy @ 27 August 2009 10:06 CET by Jeroen · permalink · 0 reactions


Key interest rate cut to 6.50 percent The board of governors of Bank Indonesia have decided yesterday that the benchmark interest rate was to be lowered with 25 basis points to 6.50 percent per year. "This decision was made after the board of governors concluded that the declining inflation rate continues in line with the limited domestic demand as well as the expectation of declining inflation," said Bank Indonesia in a statement.

Posted in Economy @ 06 August 2009 03:28 CET by Jeroen · permalink · 0 reactions


Agency: Poverty rate in Indonesia drops compared to last year Indonesia's poverty rate dropped 1.3 percentage point this year from 15.4 per cent last year owing to stable inflation and higher wages, the national bureau of statistics said Wednesday. According to a survey conducted in March, 32.5 million Indonesians live under the poverty line, or 14.15 per cent of the country's population, the bureau said.

Posted in Economy @ 02 July 2009 04:09 CET by Jeroen · permalink · 0 reactions


Indonesian exports down 23 percent in April Indonesian exports in April fell 22.5 per cent from the same month a year ago to 8.46 billion dollars, the Central Bureau of Statistics said Monday. Indonesia, South-East Asia's largest economy, had a trade surplus of 2.08 billion dollars in April because its imports dropped 45 per cent to 6.38 billion dollars, the bureau said.

Posted in Economy @ 02 June 2009 08:03 CET by Jeroen · permalink · 0 reactions


Indonesia cuts key interest rate by 25 basis points The Indonesian central bank (Bank Indonesia) Tuesday reduced benchmark rate by 25 basis points to 7.25 percent, a Bank Indonesia senior official said. "The decision to reduce the benchmark rate was made after the governor board learned about the ongoing economic developments in both the domestic and international market," said Strategic Planning and Public Relations Director at Bank Indonesia Dyah Makhijani.

Posted in Economy @ 05 May 2009 04:12 CET by Jeroen · permalink · 0 reactions


Indonesia's central bank slashes interest rate by 50 basis points The Indonesian central bank on Wednesday cut its benchmark interest rate by a half percentage point to 7.75 percent to boost economic growth and reduce unemployment, the bank said in a statement. Easing inflation and the fall of overseas sales have triggered governor Boediono and his seven colleagues to reduce the rate, which is more than the expected 25 basis points.

Posted in Economy @ 05 March 2009 09:51 CET by Jeroen · permalink · 0 reactions


Indonesia cuts rates by 50 basis points to 8.25% Bank Indonesia Governor Boediono and his board voted unanimously on Wednesday morning to cut interest rates by 50 basis points from the current 8.75 percent to 8.25 percent - exactly in line with analyst expectations.

Posted in Economy @ 04 February 2009 05:38 CET by Jeroen · permalink · 0 reactions


Central bank cuts rate by 50 basis point to 8.75% The Indonesian central bank Wednesday slashed its benchmark interest rate by 50 basis points to 8.75 percent following the good outlook of inflation to spur growth, according to a statement by the bank. The 50 basis point cut is in line with the recent demand from the government and business sector, as the country has decided to rely much on the huge domestic market following the fall of demand of its products in overseas.

Posted in Economy @ 08 January 2009 03:12 CET by Jeroen · permalink · 0 reactions


Indonesia to launch stimulus to boost economy Indonesian President Susilo Bambang Yudhoyono said Wednesday his country will launch a stimulus this year to boost economic growth as an effort to cushion the deepening impact of global recession. "There is a stimulus on top of the state budget in 2009," Yudhoyono told at a press conference after a cabinet meeting.

Posted in Economy @ 03 January 2009 05:16 CET by Jeroen · permalink · 0 reactions


Indonesia cuts oil prices by some 10 % to shield economy Indonesian President Susilo Bambang Yudhoyono announced on Sunday the reduction of oil prices to protect the country's economy from the fallout of the global financial crisis. The president made the decision after a cabinet meeting on Sunday evening, following the ease of the global oil prices to nearly 40 U.S. dollars a barrel from a record of over 147 U.S. dollars a barrel on July 11.

Posted in Economy @ 15 December 2008 07:02 CET by Jeroen · permalink · 0 reactions


Indonesia car sales slides in November The number of Indonesia's car sales in November dropped to over 47,000 units from that of 54,000 units in the previous month, chairman the Indonesian Automotive Industry Association Bambang Trisulo said here Tuesday. The high interest rates, tumbling commodity prices and lack of U.S. dollars liquidity as a fallout of the global financial turmoil, have started battering consumption.

Posted in Economy @ 09 December 2008 15:03 CET by Jeroen · permalink · 0 reactions


Petrol price to be cut by six percent next month The Indonesian government says it is cutting petrol prices by more than six percent from the first of next month, in a bid to ease inflation and spur economic growth. The finance minister, Sri Mulyani Indrawati, says while the government is responding to public demand for cheaper fuel, diesel and kerosene prices will not be altered.

Posted in Economy @ 07 November 2008 04:16 CET by Jeroen · permalink · 1 reaction


Indonesian central bank keeps benchmark rate at 9.5% Indonesian central bank kept on hold its benchmark interest rate at 9.5 percent on Thursday, the bank said. "Amid the current global financial upheaval and slowing of the world economy, the Bank Indonesia (the central bank) thinks that it is necessary to keep a right monetary policy so that it can achieve a balance between the economic growth and efforts to maintain monetary stability," the bank said in a statement.

Posted in Economy @ 06 November 2008 11:17 CET by Jeroen · permalink · 0 reactions


Indonesia keeps stock exchange closed Indonesia closed its stock exchange for the second day to halt a flurry of selling that sent the main stock index plummeting more than 20 percent this week, while Asian trading ended mixed. Stock exchange president Erry Firmansyah said it will remain closed to give investors a chance to "calm down before they make decisions."

Posted in Economy @ 09 October 2008 05:19 CET by Jeroen · permalink · 0 reactions


Bank Indonesia increases interest rate Bank Indonesia has increased its policy rate by 25 basis points to 9.5% as they continue their ongoing battle with inflation. Indonesia did not join Australia, who cut rates today by the highest since a recession in 1992. It is predicted however that today’s increase may be the last this year as the aim of the central bank moves onto supporting growth rather than continuing the fight against inflation.

Posted in Economy @ 07 October 2008 03:41 CET by Jeroen · permalink · 0 reactions


Indonesia fuel subsidies may rise to 14.1 bn euro President Susilo Bambang Yudhoyono said on Wednesday oil subsidies may rise to 14.1 bn euro this year if crude prices average $140 a barrel and urged parliament to work with the government to tackle the issue. Fuel prices were increased in May due to ballooning subsidies on the back of soaring global oil prices, sparking protests in a country where millions are already suffering from higher food prices.

Posted in Economy @ 04 July 2008 07:59 CET by Jeroen · permalink · 0 reactions


June inflation 2.46 percent, year-on-year hits 11 percent As was expected before, the inflation rate in Indonesia was higher in June than in the month of May 2008. The inflation reached 2.46 percent, where it only was 1.41 percent in May. The numbers were released by Ali Rosidi, a member of the State Statistics Agency BPS, at a meeting with the press.

Posted in Economy @ 02 July 2008 04:11 CET by Jeroen · permalink · 0 reactions


Need for fuel does not decline with higher prices For most Indonesians it came as unexpected as ever. With a shortage of foreign news, strictly regulated by the Indonesian government, it was not in the line of expectations of the average man in the street that fuel prices might just be hiked with one third all of a sudden. However almost the entire population of this planet knows what the current market price of a barrel of crude oil is - somewhere about 130 US dollar - Indonesia assumed that everything was fine. Use of fuel would decrease, prices would come down and nationwide production was to rise as well.

Posted in General @ 31 May 2008 00:00 CET by Jeroen · permalink · 5 reactions


Indonesia's economy likely grew over 6% for sixth quarter Indonesia's economy probably grew by more than 6 percent for a sixth quarter as the lowest interest rates in three years spurred spending on homes and cars. Southeast Asia's biggest economy expanded 6.2 percent in the three months to March 31 from a year earlier, about matching the 6.25 percent expansion in the preceding period, according to the median forecast of 17 economists in a Bloomberg News survey. The Central Statistics Bureau will release the data in Jakarta today.

Posted in Economy @ 13 May 2008 03:56 CET by Jeroen · permalink · 0 reactions


Indonesian police on alert for oil price protests ndonesia's police have been told to be be on alert for any signs of unrest over fuel prices ahead of an expected price hike. The government is believed to be considering a fuel price rise of between 20 and 30 percent, a move that is sure to fan inflation at a time of already high food prices.

Posted in Protests @ 10 May 2008 04:10 CET by Jeroen · permalink · 0 reactions


Indonesia to scrap import duty on wheat The Indonesian government will exempt wheat from import duty as surging wheat and flour prices have hurt local food producers, an official said Monday. "The 5 percent duty on wheat will be scrapped, what we need now is a ministerial decree," Bayu Krisnamurthi, a deputy for coordinating minister for economic affairs, was quoted by leading news website Detikcom as saying.

Posted in Economy @ 22 January 2008 06:34 CET by Jeroen · permalink · 0 reactions


BMW reports 86% surge in Indonesia sales German car-maker BMW said its sales in Indonesia rose by 86 percent in 10 months to October this year from the same period last year supported by improving macro economy in the country. Local subsidiary PT BMW Indonesia reported sales of 802 units in the January-October period of 2007 against 431 units in the corresponding period last year.

Posted in Economy @ 20 November 2007 01:53 CET by Jeroen · permalink · 0 reactions


Indonesia 2007 growth seen strongest in 11 years The economy of Indonesia is likely to expand 6.1 percent this year, its fastest pace in 11 years, with growth further accelerating in 2008, helped by relatively low interest rates and strong commodity exports, a poll showed. The full-year growth forecast for Southeast Asia’s biggest economy matched the estimate of a similar quarterly poll conducted in June, but analysts revised up their outlook for 2008 to 6.45 percent from 6.40 percent previously.

Posted in Economy @ 27 September 2007 13:17 CET by Jeroen · permalink · 0 reactions


Lower inflation in May 2007 Year-on-year inflation in Indonesia for the month of May is likely to be lower than the month before as prices of most basic goods were steady, according to the senior deputy governor of Bank Indonesia, the central bank on Thursday. The consumer price index was down 0.16 percent in April from March but was up 6.29 percent year-on-year.

Posted in Economy @ 01 June 2007 09:58 CET by Jeroen · permalink · 0 reactions


Indonesia cuts interest rate to 8.75% The Indonesian Central Bank has cut it's main interest rate by 25 basis points on Tuesday, in line with expectations. This is the 11th rate-cut in one year in response to falling inflation and a strong Indonesian currency.

Posted in Economy @ 09 May 2007 02:36 CET by Jeroen · permalink · 0 reactions


Indonesia floods begin to recede amid disease risk Flood waters receded in parts of Indonesia's capital on Tuesday, but huge areas remained submerged heightening the risk of disease amid questions over why more had not been done to prevent the disaster. Businesses were also trying to assess the economic impact of the floods, which have caused blackouts, cut telecommunications and made many key roads impassable.

Posted in Flooding @ 07 February 2007 02:36 CET by Jeroen · permalink · 0 reactions


Shares predicted to continue strong gains in 2007 Jakarta's main stock index is set for further heady gains this year, supported by improving economic conditions, firm commodity prices and subdued inflation which should give corporate earnings a boost, encouraging fresh capital into the sharemarket, analysts said. They are picking a gain of between 16-43 pct, after last year's 55 pct surge, which saw the composite index repeatedly setting new records to finish 2006 at an all-time high of 1,805.522 points.

Posted in Economy @ 09 January 2007 03:30 CET by Jeroen · permalink · 8 reactions


Inflation plunges to 6.6 pct in 2006 Indonesia's inflation rate in 2006 plunged to 6.60 per cent from 17.11 per cent a year earlier, the Central Bureau of Statistics (BPS) said. Inflation in December 2006 reached 1.21 per cent with the food stuff group contributing the highest inflation data of 3.12 per cent to the monthly figure, BPS chief Rusman Heriawan said here Tuesday.

Posted in Economy @ 03 January 2007 12:00 CET by Jeroen · permalink · 0 reactions


Rising land price, lack of rules hamper relief work in Aceh The high price of land and lack of rules and planning by the local government have slowed the much-awaited reconstruction and rehabilitation in Aceh, that was hit by a tsunami two years ago, authorities said Tuesday. Head of the Reconstruction and Rehabilitation Agency (BRR) Kuntoro Mangkusubroto said that many requests of the agency to the local government to issue rules or blue-prints of the center of a city have not been met. However, spokesman of the Banda Aceh (capital of the province) administration Mahdi Ibrahim said that the limited budget has made the local government find it difficult to buy lands, whose price has gone up several folds.

Posted in General @ 26 December 2006 12:17 CET by Jeroen · permalink · 0 reactions


Indonesia central bank cuts key rate to 14-month low Indonesia's central bank cut its benchmark interest rate to a 14-month low, the seventh reduction since May, to help revive consumer spending and boost investment. Bank Indonesia Governor Burhanuddin Abdullah and his fellow policy makers reduced the rate used as a reference for bill sales by half a percentage point to 9.75 percent, a move predicted by 16 of 21 economists surveyed by Bloomberg News, and indicated further cuts are likely next year.

Posted in Economy @ 08 December 2006 03:03 CET by Jeroen · permalink · 0 reactions


Indonesia's inflation in November 5.27 % Indonesia`s inflation in November 2006 fell to 0.34 percent from 0.86 percent a month earlier, bringing the calendar year inflation to 5.32 percent and year-on-year inflation to 5.27 percent. The year-on-year inflation in November was lower than in October when it stood at 6.29 percent, the Central Bureau of Statistics (BPS) said on Friday.

Posted in Economy @ 02 December 2006 04:32 CET by Jeroen · permalink · 0 reactions


Kalla: 'Rupiah's strength is a concern' The Indonesian rupiah's strength is a concern and businesses in Southeast Asia's biggest economy may feel more comfortable if it weakened to about 9,500 against the dollar, Vice President Jusuf Kalla said.

Posted in Economy @ 24 November 2006 02:32 CET by Jeroen · permalink · 0 reactions


Bank of Indonesia cuts key rate for sixth time Indonesia’s central bank cut its benchmark interest rate for the sixth time since May and said borrowing costs may be reduced again in December, after inflation slowed to a two-year low and the currency strengthened. Bank Indonesia Governor Burhanuddin Abdullah and his fellow policy makers cut the rate used as a reference for bill sales by half a percentage point to 10.25%.

Posted in Economy @ 08 November 2006 02:11 CET by Jeroen · permalink · 0 reactions


Bank Indonesia may cut key policy rate for sixth time since May Indonesia's central bank will probably cut its benchmark interest rate by half a percentage point, the sixth reduction since May, to help revive consumer spending after inflation slowed to a two-year low. Bank Indonesia Governor Burhanuddin Abdullah and his fellow policy makers will cut the rate used as a reference for bills sales to 10.25 percent, according to 15 of 16 economists in a Bloomberg survey. One expects a reduction to 10 percent. The central bank decision is due in Jakarta tomorrow.

Posted in Economy @ 06 November 2006 03:17 CET by Jeroen · permalink · 0 reactions


The day before the fall of Suharto Controversy has surrounded the book written by former President Habibie, which reveals a number of new historical facts about the events of May 1998. The military is mentioned as having a hand in speeding up the downfall of the Suharto regime. Two major-generals and a number of colonels are suspected of having "allowed" university students to occupy the parliament building in Senayan. Tempo sorts out the important moments during the 24 hours preceding Suharto's downfall. Here is the report.

Posted in History @ 03 November 2006 00:00 CET by Jeroen · permalink · 0 reactions


Two years of SBY: Bouquet for Aceh, brickbat for economy As he heads into his third year as Indonesia's president on Friday, Susilo Bambang Yudhoyono enjoys respectable popularity, but is struggling to ignite Southeast Asia's largest economy, analysts say. The 57-year-old former general, who was nominated for a Nobel peace prize for overseeing a peace pact with separatist rebels in Aceh, has crafted a respected image abroad, but at home the battles he faces are more complex.

Posted in Politics @ 29 October 2006 02:53 CET by Jeroen · permalink · 0 reactions


Need for speed in Indonesia Two years into his five-year term, Indonesian President Susilo Bambang Yudhoyono presents himself as a sincere, hard-working reformer, a long-distance runner pacing himself on a marathon run. But many Indonesians think the country needs a sprinter.

Posted in Politics @ 20 September 2006 14:47 CET by Jeroen · permalink · 0 reactions


Spending has quickened, 50% of budget spent Indonesia's government has accelerated its spending on public work projects needed to spur growth in Southeast Asia's biggest economy. The government has spent "slightly above'' 50 percent of this year's budget as of early September, Finance Minister Sri Mulyani Indrawati said today. The government plans to spend 689.8 trillion rupiah ($75 billion) in 2006.

Posted in Economy @ 15 September 2006 11:57 CET by Jeroen · permalink · 0 reactions


Indonesia hopes to have single digit interest rate in 2007 Indonesia hopes the central bank interest rate will reach to single digit in 2007 to facilitate economic activities, the central bank governor Burhanuddin Abdullah said here on Monday. "If the trend is improved, hopefully the single digit interest rate can be achieved," he said. He said that if Indonesia could maintain inflation rate below 7 percent, the interest rate could be 10 percent.

Posted in Economy @ 12 September 2006 07:29 CET by Jeroen · permalink · 0 reactions


Central bank vows further cuts in interest rate The Indonesian central bank said Friday it may further cut the benchmark interest rate to 10 percent by the end of the year. Earlier this week, Bank Indonesia cut the interest rate by 50 basis points to 11.25 percent. "We are confident that, between now and the end of the year, the inflation will be contained below 7 percent and Bank Indonesia interest rate will move to 10 percent," Bank Indonesia deputy governor Aslim Tadjuddin told reporters here.

Posted in General @ 11 September 2006 14:13 CET by Jeroen · permalink · 0 reactions


Indonesia drops plan to raise phone tariff The Indonesian government will not raise charges on fixed-line phones due to concerns about low consumer purchasing power despite a planned hike to take effect in January next year, an official has said. "Our economic condition is not that conducive. This is a result of the low purchasing power of the people and the recent natural disasters," the Communications and Information Ministry's director general of post and telecommunications, Gatot Dewa was quoted Tuesday by The Jakarta Post daily as saying. "Therefore, the fixed-line telephone rates will not be increased."

Posted in Economy @ 22 August 2006 15:31 CET by Jeroen · permalink · 0 reactions


Indonesia sees 6.3% economic growth in 2007 Indonesia projected 6.3 percent economic growth next year, Finance Minister Sri Mulyani said in Jakarta on Wednesday. The minister said that the government assumed the country's rupiah exchange rate against one U.S. dollar was at 9,400 rupiahs and inflation rate at 6.5 percent for 2007.

Posted in Economy @ 22 June 2006 08:05 CET by Jeroen · permalink · 0 reactions


Indonesia inflation edges up in May Indonesia’s annual inflation rate edged up in May on higher food prices and a weaker rupiah, underlining expectations that the central bank will hold off lowering interest rates at a policy review next week.

Posted in Economy @ 02 June 2006 07:08 CET by Jeroen · permalink · 0 reactions


Moody's ups Indonesia rating by one notch to B1 Moody's Investors Service said on Friday it had upgraded Indonesia's sovereign rating by one notch to B1, citing substantial and steady improvement in government finances. The outlook on the rating is stable, it said in a statement.

Posted in Economy @ 19 May 2006 07:03 CET by Jeroen · permalink · 0 reactions


Kalla: No need for another fuel hike Concerns that the recent surge in global oil prices could lead to another fuel price hike this year have eased for the moment, after Vice President Jusuf Kalla said the government had no immediate plans to raise fuel prices. "I don't think a fuel price hike is necessary at the moment," Vice President Jusuf Kalla said Monday. "What we have to do now is to use energy more efficiently, fix up our power sector, and think up of other ways to save fuel."

Posted in Economy @ 25 April 2006 07:09 CET by Jeroen · permalink · 0 reactions


Kalla says no hike in power rates this year Vice President Jusuf Kalla confirmed Friday the government would drop a planned increase in electricity rates this year amid widespread opposition. Kalla said the government would likely provide around half of the extra subsidies needed by state electricity company PT PLN to cover rising fuel costs without having to increase rates, while the other half would have to be shouldered by PLN chiefly through efficiency measures.

Posted in Power supply @ 18 March 2006 07:33 CET by Jeroen · permalink · 0 reactions


Revealing BPK audit may slash power rate hike The Supreme Audit Agency (BPK) has found the actual cost for electricity generation for this year will be 4.3 percent lower than state power firm PT PLN's projection, sparking hope that a planned rate hike will be minimal or scrapped altogether. BPK revised down costs by Rp 4.9 trillion (US$524 million) to Rp 93.23 trillion, or Rp 833 per kiloWatthour (kWh), agency chief Anwar Nasution told reporters after submitting the audit report to the House of Representatives on Thursday. PLN previously estimated the average cost to generate one kWh of power at Rp 870.

Posted in Economy @ 09 March 2006 15:06 CET by Jeroen · permalink · 0 reactions


Fuel imports slump as consumption declines Oil traders looking for a rebound in Indonesia’s oil demand that could resuscitate moribund diesel and gasoline markets may be in for a long wait as Indonesians have quickly learned to live with less fuel. Despite hopes for a quick recovery, consumers in Asia’s fifth-biggest oil user are burning nearly 20 percent or 200,000 barrels per day (bpd) less fuel than a year ago after the government doubled retail prices last October, industry officials say.

Posted in Economy @ 19 February 2006 10:59 CET by Jeroen · permalink · 0 reactions


Bank Indonesia may raise rates depending on inflation Indonesia's central bank will maintain a "tight-biased" monetary policy in the coming months which means its key interest rate may remain at 12.75 percent or be increased, Governor Burhanuddin Abdullah said. Bank Indonesia on Feb. 7 left its key policy rate unchanged for a second month to stem a slowdown in economic growth.

Posted in Economy @ 15 February 2006 09:09 CET by Jeroen · permalink · 0 reactions


Bank Indonesia keeps 2006 inflation forecast at 8% Bank Indonesia kept its inflation forecast for this year unchanged at 8 percent even after the measure rose more than expected in January, Governor Burhanuddin Abdullah said on Friday. Consumer prices in Indonesia rose 17 percent in January from a year earlier, after gaining 17.1 percent in the previous month.

Posted in Economy @ 03 February 2006 10:27 CET by Jeroen · permalink · 0 reactions


Shared end at record high at BI move Indonesia shares ended at a record high Monday buoyed the central bank's move to defy market expectations and not hike its benchmark Bank Indonesia rate for the first time since July, analysts said.

Posted in Economy @ 10 January 2006 07:07 CET by Jeroen · permalink · 0 reactions


Inflation down in December Indonesia's inflation rate fell in December for the first time in seven months after the state oil company cut fuel costs and food prices stabilised. Consumer prices in South-East Asia's largest economy rose 17.1% from a year earlier, Choiril Maksum, director of the Central Statistic Bureau said yesterday in Jakarta. The rate was lower than the six-year high of 18.4% in November and the 18% median forecast in a Bloomberg survey of 10 economists. Prices fell 0.04% from a month earlier.

Posted in Economy @ 03 January 2006 07:18 CET by Jeroen · permalink · 0 reactions


Bank Indonesia increases key rate to curb inflation Indonesia's central bank raised its benchmark interest rate for the sixth time in four months to restrain inflation after government fuel-price increases. Bank Indonesia today raised the rate used as a reference for bill sales by half a percentage point to 12.75 percent. That's less than the 13.25 percent median forecast of 10 economists in a Bloomberg survey. The bank said inflation in Southeast Asia's largest economy may ease to 18 percent in December from a year earlier from a six-year high of 18.4 percent in November.

Posted in Economy @ 07 December 2005 07:06 CET by Jeroen · permalink · 0 reactions


Boediono takes on economy President Susilo Bambang Yudhoyono announced a Cabinet reshuffle on Monday aimed at boosting his government's economic performance against a background of high inflation and unemployment. The changes to the one-year-old Cabinet saw Boediono, a former finance minister in the administration of President Megawati Soekarnoputri, take over the coordinating minister for the economy post, replacing Aburizal Bakrie, who was given a new assignment as the coordinating minister for people's welfare.

Posted in Politics @ 06 December 2005 17:15 CET by Jeroen · permalink · 0 reactions


Property for foreigners Property analysts and developers share the same pessimistic projection that demand for all kinds of property will decline as the central bank continues to raise interest rates to cope with strong inflationary pressures and with a four-year low in consumer confidence.

Posted in General @ 30 November 2005 00:00 CET by Jeroen · permalink · 0 reactions


Indonesia inflation seen above 12% Indonesia's inflation rate is expected to exceed 12 percent year-on-year in 2005, before returning to single digits by the end of September 2006, the senior deputy governor of Bank Indonesia said on Wednesday. Miranda Goeltom also told reporters the rupiah currency was expected to trade around 10,000 to the U.S. dollar for the rest of the year.

Posted in Economy @ 23 November 2005 06:56 CET by Jeroen · permalink · 0 reactions


Indonesia likely to change economic team President Susilo Bambang Yudhoyono's plan for a long-awaited Cabinet reshuffle has fueled expectations of changes in his government's economic team. It is likely that "one or two" ministers will be out of their current jobs after a long-promised evaluation of their performance, Yudhoyono said Wednesday, without elaborating.

Posted in Politics @ 13 November 2005 10:26 CET by Jeroen · permalink · 0 reactions


October inflation surges to 17.9% on fuel Indonesia's inflation rate jumped to a six-year high after the government increased fuel prices, putting pressure on the central bank to raise interest rates today. Stocks and the rupiah fell. Consumer prices climbed 17.9 percent in October from a year earlier after a 9.1 percent rise in September, the Central Statistics Bureau said today in Jakarta. That's faster than the median forecast of 13.3 percent in a Bloomberg survey.

Posted in Economy @ 01 November 2005 07:01 CET by Jeroen · permalink · 0 reactions


Bank Indonesia raises inflation forecast to 14% Bank Indonesia, the nation's central bank, raised its inflation forecast for this year to 14 percent from 12 percent after the government's more-than-expected fuel price increase, Governor Burhanuddin Abdullah said. The central bank expects October's inflation to accelerate 5.1 percent from the previous month, Abdullah said in a speech in Jakarta today.

Posted in Economy @ 24 October 2005 18:43 CET by Jeroen · permalink · 0 reactions


Oil price hike may increase inflation to 11 percent The Indonesia's oil price hike will contribute between 2 percent and 3 percent on inflation rate, bringing the country's inflation between 10 percent to 11 percent, a minister said here Thursday. Indonesian Coordinating Minister for Economy Aburizal Bakrie said that based on the current prices hikes resulted from the oil price hike, the contribution seemed less than 3 percent.

Posted in Economy @ 06 October 2005 18:57 CET by Jeroen · permalink · 3 reactions


Inflation rate at 33-month high in September Indonesia's inflation accelerated at its fastest pace in 33 months in September, adding to expectations the central bank will raise interest rates again to curb the price pressures expected from the government's Oct. 1 fuel cost increase.

Posted in Economy @ 03 October 2005 10:12 CET by Jeroen · permalink · 0 reactions


Subsidy cut to fuel the fire In the wake of a two-month "mini crisis" that saw the rupiah hit a four-year low of 11,750 per dollar on August 30, Jakarta has finally announced an imminent and substantial reduction in fuel subsidies. The exact date and the level of cuts have yet to be announced, though there is widespread speculation over both. Vice President Jusuf Kalla has said fuel prices may rise as early as October 1 while National Development Planning Minister Sri Mulyani Indrawati has said an increase in November would be too late to help reduce subsidies to the level of Rp89.2 trillion. She said fuel prices might increase by at least 50% in October.

Posted in General @ 27 September 2005 00:00 CET by Jeroen · permalink · 0 reactions


Indonesia set for fuel cost rise Indonesia is to raise nationwide fuel prices from 1 October, President Susilo Bambang Yudhoyono has announced. The controversial decision comes as the country moves to cut fuel subsidies in response to the soaring cost of oil. President Yudhoyono said his government would go ahead with the fuel price rise, but did not say by how much.

Posted in General @ 23 September 2005 09:27 CET by Jeroen · permalink · 3 reactions


Indonesia may raise fuel prices by 50% in October Indonesia's government may raise fuel prices by at least 50 percent in October to avoid missing the budget deficit target as surging global prices boost the cost of subsidies, Planning Minister Sri Mulyani Indrawati said.

Posted in Economy @ 14 September 2005 07:14 CET by Jeroen · permalink · 3 reactions


Indonesia says to hike fuel prices in early October Indonesia plans to raise domestic fuel prices early next month, the government said on Monday, in the first clear indication of when it would reduce crippling but politically sensitive fuel subsidies. "We have not set the date but it will be in early October," State Secretary Yusril Ihza Mahendra told reporters when asked about the timing of the fuel price hike. He said the size of the increase was being calculated.

Posted in Economy @ 12 September 2005 08:40 CET by Jeroen · permalink · 0 reactions


Bank Indonesia raises benchmark rate to 10.00% Indonesia's central bank raised its benchmark rate 50 basis points to 10.00% Tuesday, Bank Indonesia Governor Burhanuddin Abdullah told reporters at a media briefing. "The increase in the Bank Indonesia rate is in response to the central bank's policy to consistently guide inflationary expectations," Burhanuddin said.

Posted in Economy @ 06 September 2005 19:54 CET by Jeroen · permalink · 0 reactions


IMF lauds Indonesia for moves to tackle currency woes High oil prices are not yet having a clear impact on worldwide economic growth, says the International Monetary Fund. But the IMF warns countries to gird themselves for the eventual impact, as oil prices will remain high. IMF managing director Rodrigo de Rato also said Indonesia's economy is on a strong footing, and is confident that Indonesia's financial woes will not spill over to the rest of Asia.

Posted in Economy @ 04 September 2005 08:59 CET by Jeroen · permalink · 0 reactions


Why Indonesia must consider abolishing Rupiah The crisis of confidence that has come back to haunt the rupiah for the second time in eight years is making some analysts wonder if Indonesia would be better off without a central bank. After all, what's the good of having a monetary authority when it can't protect the purchasing power of the currency it issues?

Posted in Economy @ 01 September 2005 00:00 CET by Jeroen · permalink · 0 reactions


Indonesia full year fuel subsidy seen at Rp. 138.6 trln Legislators and government officials agreed to raise fuel subsidy spending under Indonesia's 2005 state budget for a second time to 138.6 trln rupiah from 76.5 trln after raising the oil price assumption to 54 usd a barrel from 45 usd previously, legislator Amin Said Husni said. The exchange rate assumption has also been raised to 9,800 rupiah to the dollar from 9,500 previously, said Husni, who chairs a working committee at the House of Representative's Budget Commission.

Posted in Economy @ 31 August 2005 18:20 CET by Jeroen · permalink · 0 reactions


Rupiah loses more ground as market confidence ebbs The rupiah lost nearly 5 pct today, falling past 10,800 per dollar at one point as the market continued to lose confidence in the capability of both Bank Indonesia and the government to defend the local unit, analysts said. They said today's fresh oil price spike was what triggered renewed selling pressure on the rupiah.

Posted in Economy @ 29 August 2005 14:13 CET by Jeroen · permalink · 0 reactions


Indonesia's central bank absorbs 1.72 trillion rupiah Indonesia’s central bank absorbed 1.72 trillion rupiah ($181.5 million) from the financial system on Friday, by offering a six-day deposit at 5.75 percent, in an effort to help support the rupiah. This is the third time Bank Indonesia has used the deposit facility, which it described as a fine tuning instrument, since it was introduced on April 26.

Posted in Economy @ 08 May 2005 00:01 CET by Jeroen · permalink · 0 reactions


'Indonesia might raise interest rates’ Pressure is growing on the Indonesian central bank to raise interest rates and defend a battered rupiah. Worried about stifling economic growth, the Indonesian central bank has so far relied on dollar-selling and verbal intervention to stem the rupiah’s decline, suggesting as recently as last week the currency could rally to 9,000 per dollar this year because of strong economic fundamentals.

Posted in Economy @ 27 April 2005 00:01 CET by Jeroen · permalink · 0 reactions


Indonesia plans new measures to quell fuel price protests Indonesia's government will offer incentives for public transport operators to keep their fares down in an effort to quell widespread protests following major fuel price hikes, a report said. Transport Minister Hatta Rajasa said the package of measures would include an exemption from import duties on commercial passenger vehicles while a crackdown would be launched on corruption and crime plaguing the industry.

Posted in Politics @ 07 March 2005 00:04 CET by Jeroen · permalink · 0 reactions


Ministery: Govt to hike fuel prices starting Tuesday Indonesia's government will implement long-planned fuel price increases starting Tuesday, including a 32% increase in the price of gasoline, Minister of Energy and Mines Purnomo Yusgiantoro told reporters late Monday. The price increases will result from a reduction in massive fuel subsidies that have crippled the government's ability to fund economic development and have prompted illegal imports of petroleum products, Purnomo told a special press briefing attended by top government ministers.

Posted in Economy @ 28 February 2005 00:02 CET by Jeroen · permalink · 0 reactions


The government says it will gradually liberalize the domestic fuel market over the next five years, with the aim of completely eliminating costly fuel subsidies by 2010. "In the year 2010, fuel prices will be determined by the mechanism of healthy and appropriate competition, and the government will only give special help to replace subsidies for certain fuels," Energy and Mineral Resources Minister Purnomo Yusgiantoro was quoted as saying Monday (29/11/04) by detikcom online news portal.

Posted in General @ 01 December 2004 00:00 CET by Jeroen · permalink · 0 reactions


Megawati says 2005 deficit to narrow Indonesia's budget deficit will fall by almost a third, President Megawati Soekarnoputri said, as the fastest economic growth in nine years boosts revenue. The government's deficit next year will probably be 16.9 trillion rupiah ($1.83 billion), or 0.8 percent of gross domestic product, Megawati said in a speech to parliament to present the 2005 draft budget. That is 31 percent less than the 24.4 trillion rupiah projected for this year.

Posted in Economy @ 16 August 2004 00:02 CET by Jeroen · permalink · 0 reactions
    
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