Indonesian President Joko Widodo may continue to seek the central bank’ help in financing the state budget deficit until 2022, if the economic growth below than 2021' targets - Photo: Special

JAKARTA (TheInsiderStories) – Good Morning! Indonesian President Joko Widodo may continue to seek the central bank’ help in financing the state budget deficit until 2022, if the economic growth below than 2021′ targets. As reported, the Southeast Asia largest economy targeting the economic growth around 4.5 – 5.5 next year.

Recently, finance minister, Sri Mulyani Indrawati admitted, that the parliament proposed to revised Bank Indonesia law to help the government handle the COVID-19 outbreak. Beside, the central government also evaluates Financial Service Agency and Indonesia Deposit Insurance laws.

Widodo also hopes that there will be a reciprocal green lane for essential travel with Singapore soon. He hope that with the scheme would be a boost to bilateral ties, specifically in the economic and business sectors. Singapore was Indonesia’ top foreign investor, with a total of US$2.7 billion in realized investments during first quarter of 2020.

While, Malaysia announced to block citizens of Indonesia, the Philippines, and India from entering the country starting August 31. All foreign tourists have been banned from entry since March.

In the celebration 70th years Indonesia – China relationships, the head of state and President Xi Jinping look to strengthen the bilateral ties in trade and the pandemic issues. As known, both countries has signed the COVID-19 vaccines deal and looking another various ties in the future.

From Europe, Paris is reported deployed the nuclear-powered aircraft carrier Charles De Gaulle to the East Mediterranean Sea amid rising tensions between Turkey and Greece. The Turkish government criticized the move and called it France’ “Red Line Policy”.

In Indonesia, finance minister has an agenda for a working meeting with commission XI of the parliament with agenda the discussion of basic assumptions in the 2021 State Budget. Then, the minister of energy and mineral resources, Arifin Tasrif, to discussed the oil price and lifting assumptions with Commission VII.

On Tuesday, Indonesian Rupiah weakened by 0.07 percent to 14,573 per US Dollar and the Jakarta Composite Index (JCI) closed up 1.4 percent to 5,310 comapred to prior day. According to analysts, the sentiment is still focused on the movement of the Greenback.

The reasoned because investors still sees the Federal Reserves decision to keep its benchmark interest rate at a low level will affects the global economy. As for domestic, market still focused on the development of the COVID-19 case which continued to climb in the recent days.

Based on the various informations, they estimated the local currency will traded in the range  14,400 – 14,700 a US Dollar and the JCI between 5,220 – 5,350 Stocks that can be watched today are PT Sido Muncul Tbk (IDX: SIDO), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Timah Tbk (IDX: TINS), PT Charoen Pokphand Indonesia Tbk (IDX: CPIN ), and PT Bank Mandiri Tbk (IDX: BMRI).

Then, the shares of PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Semen Indonesia Tbk (IDX: SMGR), PT Bank Central Asia Tbk (IDX: BBCA), PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), PT Astra Agro Lestari Tbk (IDX: AALI), PT Astra International Tbk (IDX: ASII), PT HM Sampoerna Tbk (IDX: HMSP), and PT Telkom Indonesia Tbk (IDX: TLKM).

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by Linda Silaen, Email: linda.silaen@theinsiderstories.com.