The governor, Perry Warjiyo estimates in the 1Q the economic growth around 4.9 percent and will approach 5 percent in the next quarter - Photo by Vice President Office

JAKARTA (TheInsiderStories) – Good Morning! Bank Indonesia believes there is an economic rebound in the second quarter (2Q) of 2020 due to the coronavirus outbreak. The governor, Perry Warjiyo estimates in the 1Q the economic growth around 4.9 percent and will approach 5 percent in the next quarter.

While, finance minister, Sri Mulyani Indrawati opened the option to delay the collection of income Tax to counter the economic impact of the virus. She said that the incentives that benefited entrepreneurs had been carried out by the government in 2008 – 2009 during the global economic crisis.

The master plan for the new capital project, which includes a program to develop road infrastructure, water resources, transportation, electricity, and communication networks, is targeted for completion in May. The concept of the master plan will be one of the basis for the drafting of the State Capital Bill and a report to the Authority that will be formed in the near future.

Based on the master plan, the projects will start from the central government core area with an area of ​​5,000 hectares, while for infrastructure development in the field of water resources and roads will begin in the second half of this year.

Today, coordinating minister for maritime and investment, Luhut Binsar Panjaitan, is scheduled to visit Labuan Bajo in East Nusa Tenggara and Mandalika in Central Lombok today. While, head of Investment Coordinating Board, Bahlil Lahadalia has agenda to meet all liaison officers of ministries and institutions as part the institution efforts to boost the investment.

Dutch’ King Willem Alexander and business mission are planned to visit Indonesia on March 10 – 13. His scheduled to meet President Joko Widodo, visiting Jogjakarta, Kalimantan and Sumatera. In the middle of busy agendas, he will witnesses the various signing of agreements between the two countries.

On Thursday, Indonesian Rupiah slipped 0.44 percent to the level of 14,175 and the middle rate of BI slightly strengthened by 0.02 percent to 14,168 per US dollar. The Jakarta Composite Index was closed at 5,638.13 with a correction of 0.21 percent from the previous closing level of trade.

Some analysts rated, the market weakened as investors re-examined the prospects of emerging market assets amid further risk aversion actions triggered by the coronavirus. Until yesterday, the number of cases of corona virus infection has penetrated more than 95,000 worldwide and number of fatalities increased to 3,287 people.

They adds, the positive sentiment from the interest rate cut conducted by United States Federal Reserves seems to only have a momentary effect in the local market. The observes conveyed, now, the investors wait the central bank to reduce the benchmark rates again.

Based on various data they predicted the Rupiah will move in the range 14,100 – 14,200 over the Greenback and the JCI between 5,540-5,700. Shares that can be considered today are PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Golden Energy Mines Tbk (IDX: GEMS), PT Bukit Asam Tbk (IDX: PTBA), PT Adaro Energy Tbk (IDX: ADRO), PT Bank Mandiri Tbk (IDX: BMRI), PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Astra International Tbk (IDX: ASII), PT Jasa Marga Tbk (IDX: JSMR), PT Bank Central Asia Tbk (IDX: BBCA), PT Telkom Indonesia Tbk (IDX: TLKM), and PT HM Sampoerna Tbk (IDX: HMSP).

May you have a profitable day!

Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia