JAKARTA (TheInsiderStories) – Good Morning! This week Indonesia’ Constitutional Court will make a decision on the opposition challenged on the 2019 presidential election resulted by General Election Commission (GEC). On May 24, Prabowo Subianto – Sandiaga Salahuddin Uno’ lawyer team has submit their suit to the court.
The GEC final recapitulation showed Widodo – Amin obtained 55.5 percent of the total national legitimate votes. While Subianto – Uno received 44.5 percent. However, Subianto has alleged that the presidential election was rigged and questioned the validity of more than 17 million voters in the voter list, the existence of money politics, preprinted ballots, errors in data entry by the GEC, and exploitation of state resources to win the incumbent.
The pre-trial hearing will be held on June 14 for all parties concerned, including lawyers representing Subianto – Uno, as well as the GEC and the incumbent’ campaign team, to resolve legal and procedural matters before the trial begins.
The judges will hear evidence about this case from June 17 to 21. Then will discuss the case between June 24 and 27, before issuing his verdict on June 28. The decision is final and legally binding.
Today, Statistic Indonesia will release the May’ inflation data. The country posted inflation 0.44 in April 2019, higher than a prior month of 0.11 percent. On an annual basis, the inflation rate recorded 2.50 percent, slightly up compared to March at 2.48 percent.
While core inflation stay at 3.06 percent, said the chairman Suhariyanto at his office. Of the 82 cities, 77 cities experienced inflation and five cities experienced deflation.
Furthermore, on June 12, Bank Indonesia will announce the Consumer Survey Index, on the next day the central bank release foreign reserves data, and on Friday Retail Sales Survey Index.
During last week, Group of 20 (G20) finance ministers and central bank governors agreed to regulate common rules to close loopholes used by global tech giants such as Facebook, Google, Amazon, and other large technology firms to pay their corporate taxes starting 2020.
The G20′ debate on changes to the tax code dividing to the rights to tax a company where its goods or services are sold even if it does not have a physical presence in that country and if companies are still able to find a way to book profits in low tax or offshore havens.
Earlier this year, countries and territories agreed a roadmap aimed at overhauling international tax rules that have been overtaken by the development of digital commerce.
In the same day, Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued statement on the conclusion of the G20. She said, the officials met at a time when the global economy is showing tentative signs of stabilizing and growth is projected to strengthen. The road ahead remains precarious and subject to several downside risks, she adds.
She opined, the principal threat stems from continuing trade tensions. The IMF estimates that United States – China tariffs, including those implemented last year, could reduce the level of global GDP by 0.5 percent in 2020 or about US$455 billion—which could make a significant dent in the projected pick-up in economic activity.
A second risk is that, with interest rates very low, debt levels are rising in many advanced economies, and emerging markets remain vulnerable to a sudden shift in financial conditions. And all this at a moment when monetary and fiscal policy space is more limited than in the past.
At the sidelines of G20 ministerial meeting, Lagarde also met Argentina’ Economy Minister Nicolas Dujovne and Central Bank Governor Guido Sandleris in Fukuoka, Japan. She appreciated the authorities’ continued policy efforts to led an important progress, including on the fiscal and current accounts in Argentina.
She assured, that the Fund would like to reiterate the commitment to support Argentina’ policy efforts to address its economic challenges.
Last Friday, Indonesia Rupiah closed at 14,222 against the Greenback. This morning, the local currency opened at 14,228 over 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