JAKARTA (TheInsiderStories) — Good morning! Transportation Ministry postponed the development of two national strategic projects namely Jakarta-Bandung High Speed Train (HST) and Light Rail Transit (LRT) by congestion the projects made to Jakarta-Cikampek toll road.
It has been decided that construction process from km 11th to 17th of Jakarta-Cikampek toll road will be stopped. On the other hand, the Jakarta-Cikampek Flyover Toll Stage II still be developed, as it is targeted to start operating in 2019.
Moreover, there will be an acceleration on the project construction so it can reach the operational period target. However, the government stressed some consideration so the project development will not cause more congestion on the toll road.
Furthermore, Directorate General of Customs and Excise for Finance Ministry positive that it can receive customs and excise revenue based on this year target Rp194.1 trillion (US$13.20 billion). Until October 2018, collected customs and excise revenues has achieved 74.26 percent target, valued Rp144.14 trillion.
The customs and excise revenue during January to October 2018 increased 13.3 percent compared to the same period last year.
Furthermore, West Java provincial government prepared four more special economic zones to national board. The zones are Aerocity Kertajati in Majalengka, Patimban in Subang, Walini in West Bandung, and Pesisir Island in Cirebon Regency. Recently, West Java government is in line for Tourism Ministry finalization for other 2 special economic zones, Pangandaran regency and Cikidang in Sukabumi.
Then, Moody’s Investors Service stated that development countries economic will be relatively stable in 2019, due to its resiliency. Prospects of the economic development assessed by balance strength, domestic growth, and supportive policies.
But it’s inevitable that development countries will also meet some challenges like global economic growth, interest rate increase, trade protectionism, and geopolitical tense. Moody’s also warned the development countries over pressure on loan growth that can impact macroeconomic imbalance or political risk increase.
Meanwhile, market will be reopened after one day public holiday. On Monday, Rupiah appreciated slightly by 0.05 percent to
14,586 compared to US dollar. But the raise was around 2 percent in the last 5 days. But unlike Rupiah, Jakarta Composite Index halted 0.11 percent to 6,005.29, although foreign recorded 601.36 billion Rupiah net buy.
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please visit our new website to get more insight on Indonesia’s economy: www.tisintel.com
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