JAKARTA (TheInsiderStories) — Good morning! The National Disaster Management Agency recorded the number of deaths from the Sunda Strait tsunami 429 peoples, 1,485 injured, 154 missing and 16,082 displaced. The data is based on the agency calculations on Tuesday (12/25) at 1:00 p.m. local time.
The spokesman Sutopo Purwonugroho explained, in terms of infrastructure damage, a total of 882 houses, 73 inns, 60 stalls, one dock and one shelter were damaged. Then for vehicles, there were 434 boats and damaged ships, 24 damaged cars and 41 motorbikes. But the damage data is still increasing as the evacuation process is still running.
Followed the disaster, the agency establishes emergency response status for Pandeglang, Banten and South Lampung regencies. Even so, he said, the duration of determining emergency response status could increase, adjusting conditions at the disaster site.
His updated, there are still six villages in the Sumur District in Pandeglang still isolated. The combined search and rescues team has not been able to reach that location.
Moreover, Indonesia predicts a surplus balance of payment in the fourth quarter, due to November’s big foreign inflow. According to Bank of Indonesia, US$7.9 billion foreign inflow entered some financial assets such as government securities, stocks market, and global corporate bonds issuance.
The central bank mentioned that balance of payment surplus in fourth quarter will be bigger than current account deficit (CAD). In November, Indonesia recorded $2.05 billion CAD. So the fourth quarter’s current account deficit is projected to be above 3 percent than gross domestic product.
Meanwhile, China plans to scrap some import and export tariffs next year, amid the trade tension with United States (US). Some of the import tariffs set to be abolished are for animals alternative feed.
The tariffs included in alternative foods are radishes, cotton flour, sunflower flour, and palm oil flour. The various products tariffs will be removed starting Jan, 1, 2019, said Chinese Finance Ministry in its official website.
The US and China trade war has worried the global soybean market, following China’s act in suspending soybean imports from US in July. US is known as China’s second biggest soybean supplier with $12 billion value. But now, China has restarted the US soybean purchase.
As an impact of the trade tension which hit China’s economy, the bamboo curtain country will focus in supporting its private sector next year. Chinese government will increase stimulus and cut reference rate to boost lending to private sector.
US is now still facing partial government shutdown over the border wall financing dispute between President Donald Trump and Democrats. The superpower seems to be showing no signs of progress in solving the issue. This is the third government shutdown during Trump’s era.
Trump, who insists on the border wall construction tweeted, “I am all alone (poor me) in the White House waiting for the Democrats to come back and make a deal on desperately needed Border Security.” Then, he tweeted, “Democrats must end Shutdown and finish funding.”
Other than that, the Federal Open Market Committee predicts that US economic growth might slowdown ahead of 2020 election. The Fed projects a weaker economy, below Trump’s expectations. The Fed has cut 2019’s economic growth outlook by 0.2 percent to 2.3 percent.
Last week, Indonesian financial market is getting Christmas present. Rupiah against US dollar closed strengthening 0.13 percent to 14,480, while the Jakarta Composite Index grew by 0.25 percent to 6,163.59.
The seasonal Santa rally is predicted to merry stocks market. And there’s more possibility that Rupiah and stocks market will continue their strengths this week
May you have a profitable day!