Home TIS Intelligence Morning Briefing: World Bank Review on Indonesian Economy Release Today

Morning Briefing: World Bank Review on Indonesian Economy Release Today

JAKARTA (TheInsiderStories) – Good Morning! This morning World Bank announces the third quarter review on the Indonesian economy. Earlier, the Fund has predicted the country’ economy will ended at  5.2 percent, lower than the government target at 5.3 percent.

Other agenda, President Joko Widodo will hold limited meeting on Village Fund, Trade and Industrial Program, and the development of research and innovation. While, agriculture ministry will introduce an agricultural development program, energy and mineral resources held a discussion of the mining sector, the Investment Coordinating Board meet textile players.

Director general for tax Suryo Utomo sees Indonesia will experienced short fall on tax revenues around Rp200 trillion (US$14.29 billion). In the 2019 State Budget, the government targeting to raise Rp1,018.47 trillion.

Based on the prediction, deputy finance minister Suahasil Nazara stated, the government will expand the budget deficit to 2.2 percent from initial plan 1.84 percent.

From Asia, official from China predicting United States’ President Donald Trump will hold the implementing of new tariff on Dec. 15. As known, Washington wants to put more levy on Chinese products if both largest economy not sign the ‘phase one” trade deal.

Beside, US and its counterpart Canada and Mexico will sign the North American Free Trade Agreement, although the last part of the pact remained uncertain because US Democrats voiced concerns about employment and environmental provisions contained in the agreement.

From Japan, Japan billionaire Masayoshi Son will sell his stake in Chinese Alibaba Group Holding Ltd. to get fresh funds to repurchase or buyback shares of Japan’ Softbank Group Corp. This buyback step is carried out to hoist the Softbank share price which in a few months has continued to decline.

Yesterday, Indonesian Rupiah strengthened 0.04 percent to 14,005 over the Greenback and the Jakarta Composite Index (JCI) moves slipped 0.13 percent to 6,185.95. The analysts rated, today the local currency will move in the range 13,990 to 14,040 and the stock index between 6,110 – 6,190 today.

The stock to be watch for today are PT Waskita Karya Tbk (IDX: WSKT), PT Media Nusantara Citra Tbk (IDX: MNCN), PT Wijaya Karya (IDX: WIKA), PT Indo Tambangraya Megah Tbk (IDX: ITMG), PT Indika Energy Tbk (IDX: INDY), PT Adaro Energy Tbk (IDX: ADRO), PT Bank Danamon Tbk (IDX: BDMN), PT Jasa Marga Tbk (IDX: JSMR), and PT Bank Rakyat Indonesia Tbk (IDX: BBRI).

US$1: Rp14,000

May you have a profitable day!

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