Electric Car - Photo by: Ministry of Industry Office

JAKARTA (TheInsiderStories) – the government will announce the deductive tax for electric car to drive the use of green energy utilization in the country and reduce gas emissions. Since early of 2018, the government has announced to produce presidential decree that will pave the way for the development of the electric car in the country.

At the same day, the first trial of the opposition lawsuit on General Election Commission (GEC) resulted on 2019 presidential election starting today until June 25. The Constitutional Court will make a decision on June 28.

The judge board has decided that 15 witnesses and two expert witnesses from each party may be presented during the presidential election dispute trials, according to the spokesperson, Fajar Laksono. He mentioned that each party could ask for more witnesses to the panel of judges during a trial.

In the hearing with XI Commission of House of Representative, all parties agreed to set the macro assumption on the 2020 Draft State Budget. The economic growth targeting in the range of 5.2 to 5.5 percent, inflation 2 to 4 percent, the 3-month Treasury Bills interest rate 5.0 to 5.6 percent and the exchange rate is assumed between Rp14,000 to Rp14,500 per US dollar.

While, Indonesia’ debt at the end of April 2019 stood at US$389.3 billion or rose 8.7 percent from prior year, consisted of government and central bank debt of $189.7 billion and private debt (including state-owned enterprises) amounted to $199.6 billion. The increase of total external debt growth originated from private external debt, amid a slowing growth of government external debt.

Its also reported the government external debt amounted to $186.7 billion, recorded a slower growth of 3.4 percent compared to 3.6 percent in the previous quarter. The decline was induced by debt repayments totaling $600 million as well as capital outflows to the domestic State Securities market $400 million following the global financial market uncertainty as trade tensioned escalated.

Private external debt position grew 14.5 percent as of end April, up from 13.0 percent in the previous month. The debt was dominated by the financial and insurance sector, manufacturing sector, electricity, gas, & water supply sector, and mining & drilling sector, with the share to total private external debt reached 75.2 percent.

Overall, Indonesia’ external debt ratio to Gross Domestic Product (GDP) relatively stable at 36.5 percent as of end-April 2019, compared with conditions in the previous period. In addition, the structure of Indonesia’ external debt remained primarily dominated by long-term debt, accounted for 86.2 percent of the total external debt.

Then, the Jakarta Council has announced that it will hold a plenary meeting in July to select a new deputy governor, a post that has been left vacant for nine months after Sandiaga Salahuddin Uno opted to run for the vice presidency. The Gerindra and Keadilan Sejahtera Party have proposed two candidates to fill the position, Ahmad Syaikhu and Agung Yulianto.

From global, Britain’ prime minister Theresa May is considering a face-to-face meeting with Russian President Vladimir Putin at the sideline of G20 Summit in Japan. The meeting is an effort to begin a thaw in relations before a new British leader comes to power.

British‘ relations with Russia fell to a post-Cold War low after the poisoning of Sergei Skripal, a former colonel in Russian military intelligence, and his daughter, Yulia, in Salisbury in March 2018 with the Novichok nerve agent.

Yesterday, Indonesian Rupiah lowered to 14,416 over the Greenback from last week ended at 14,356. This morning the local currency open higher at 14,338 against the US Dollar.

May you have a profitable day!

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