JAKARTA (TheInsiderStories) — Good morning! General Election Commission (GEC) set the winners of Indonesia’ 2019 presidential election on May 28, said the chairman. Aried Budiman hoped all the recapitulation completed on Wednesday (05/22) and give to all participant to challenge the result in three days after.
If Joko Widodo – Ma’ruf Amin pair win, they set up investment funds RP5.957 trillion (US$413.68 billion) to construct 25 airports to new power plants during 2020 – 2024, according to the country’ planning minister Bambang Brodjonegoro. As much as 40 percent of the total will be funded directly by the government, 25 percent through state-owned enterprises and the rest through the private sector, he said.
Further, Indonesia strengthens its cooperation with Malaysia to bring European Union discrimination over palm oil to World Trade Organization (WTO). Both countries agreed on intensifying campaign to solve the issue, as Indonesia Vice President Jusuf Kalla met Malaysia Vice Prime Minister Wan Azizah Wan Ismail, during his visit for Global Platform for Disaster Risk Reduction forum in Geneva, Swiss.
Indonesian government is now preparing complaints to WTO’ Dispute Settlement Body, which will be started with negotiation process for the next 60 days.
Then, Bank Indonesia lifted up its projection over current account deficit (CAD) from 2.5 percent to 3 percent of gross domestic product (GDP). The central bank sees there’s a potential the CAD to be widen. The Governor Perry Warjiyo rated that global economic uncertainty would affect Indonesia’ export performance to weaken.
While, Indonesia’ State budget deficit swelled to Rp101 trillion (US$7billion) in April, almost twice higher than Rp54.9 trillion in the same period last year. Finance Minister Sri Mulyani Indrawati, in press conference Thursday, explained that Indonesia’ revenue collection was Rp530.7 trillion, while the expenditure reached Rp631.78 trillion.
From abroad, United States (US) President Donald Trump gives another pressure on China to reach trade deal. Trump signed an order to restrict access for Huawei Technologies Co., into the US market and suppliers.
Shortly afterward, the Commerce Department said it had put Huawei on a blacklist that could prohibit it from doing business with American companies. In the executive order, which didn’t name any countries or companies, Trump declared a national emergency relating to threats against information and communications technology and services.
The department’ move to put Huawei on its “Entity List”, means US companies will need a special license to sell products to the Chinese company. A similar move against ZTE last year nearly forced the company to shut down before Trump intervened and a deal was reached.
Yesterday, Rupiah dropped by 0.06 percent to 14,572.50, remains at its lowest point since early January. Warjiyo also said that Rupiah depreciation against US Dollar is also impacted by global uncertainty and seasonal demand of foreign exchange.
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia