Deputy vice minister of finance, Suahasil Nazara reported, until April, Indonesia' budget deficit at 0.44 percent of gross domestic products - Photo Privacy

JAKARTA (TheInsiderStories)  – Good Morning! Deputy vice minister of finance, Suahasil Nazara reported, until April, Indonesia’ budget deficit at 0.44 percent of gross domestic products. He also announced, the state revenues only grew 3.2 percent to Rp549.5 trillion (US$36.37 billion) from a year ago due to the low tax incomes.

He also said, the government spending recorded Rp623.98 trillion or has reached around 23.87 percent of the 2020 State Budget ceiling. Recently, the ministry announced the budget deficit could widens to 6.27 percent to help the country face the COVID-19 pandemic.

The country’ palm oil fund management official said, is likely to export 12 percent less palm oil in this year from the initial targets 37.94 million tones of palm oil. While, governor of Bank Indonesia, Perry Warjiyo asserted, will help the liquidity of local banks that involved in a credit restructuring to support the economic recovery.

He said, the lenders could use their sovereign debt as underlying assets for repurchase agreemen with the central bank to get fresh funds. According to him, the banks owned Rp886 trillion in government bonds and could transact Rp563.6 trillion with the central bank should they need liquidity and the remaining as a reserved to maintain their liquidity needs.

On Wednesday, the task force for COVID-19 handling reported the highest number positive cases in Indonesia soared by 693, taking the country’ total to 19,189. The figure includes 1,242 deaths and 4,575 recoveries.

Director-general of the World Health Organization Tedros Adhanom Ghebreyesus warned, that the COVID-19 pandemic is a long way from being over amid the largest daily rise in global cases. He said, 106,000 new cases had been reported to them in the last 24 hours.

Total number of cases approach five million and more than 326,000 people are known to have died caused the virus around the world, according to Johns Hopkins University tracking. The United States (US) remains the worst-hit country, with more than 1.5 million cases and 92,000 deaths so far.

From US, the secretary of state, Michael Pompeo spoke with Spanish foreign minister, Arancha González Laya discussed an efforts to end the COVID-19 outbreak and move progressively and safely toward resuming normal life. Both ministers also continued their previous discussions on the crisis in Venezuela.

Yesterday, Indonesian Rupiah closed at 14,710 per US Dollar or rose 0.41 percent compared to the previous day of 14,770 per US dollar. The Jakarta Composite Index slightly up 0.06 percent to 4,545.95.

No transaction today in the financial market. There are also no important agenda caused of the holiday season.

May you have a profitable day!

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