JAKARTA (TheInsiderStories) — Good morning! This week Indonesia will determine the new president to lead this country. The two candidates Jokowi Widodo – Ma’ruf Amin and Prabowo Subianto – Sandiaga Salahuddin Uno has ended their campaign on Saturday (04/13).
Lot of surveys said swing voters will determine the winner of the election, with a 5.5 percent difference, in the survey, incumbents 48.8 percent versus opposition 43.3 percent, said Voxpol Center Research and Consulting. If this group chose the opposition, Subianto-Uno won the presidential election with superiority of 51.2 percent.
Today, the nation releases the trade balance data. Last month Indonesia experienced surplus US$330 million compared to prior two-month (January-February) still had a deficit of $730 million. When compared with January (m/m), the value of this export still fell by 10.03 percent, or down 11.33 percent compared to February 2018.
On the Spring Meeting in Washington during last week, International Monetary Fund (IMF) rated the trade disputes and tighter financial conditions are among the top threats to a slowing world economy. In the joint communique of the IMF’ steering committee on the weekend, officials urge countries to take steps to support growth.
The global expansion, now seen at its most sluggish pace in three years, is likely to firm up next year, but central banks and fiscal authorities have limited policy options to drive a rebound, officials said.
While, European Central Bank President Mario Draghi considered that United States’ President Donald Trump is intervening the independence of the Federal Reserve. He worried Trump’ acted will harmed the central bank independence. How free central banks are from political meddling has been a key theme on the sidelines of the IMF talks.
European Union will possibly still be implementing the Renewable Energy Directive II (RED II) and its derivative, Delegated Regulation in mid-May, although there are some rejections from palm oil producer countries. Indonesia’ Coordinating Minister for Economic Affairs, Darmin Nasution projected that the RED II implementation will be done through silent-procedure.
He added, it will not be discussed, but will be implemented automatically, two months after the European Commission announcement. According to him, Indonesia will sue the regulation through World Trade Organization (WTO).
On May 12 when the regulation officially ongoing, Indonesia is going to take litigation path. Indonesia highly objected and considered this as a pure discrimination by Europe. Moreover, Indonesia will review its cooperation with the EU.
Beside trade balance, ahead of this week, Indonesia will releases foreign debt and banking survey report. Then, China will announce the Gross Domestic Product and industrial production data.
Moreover, United Kingdom and EU will have consumer price index data announced. Bank of England Governor Mark Carney is to speak about UK economic trend and its future monetary policy. Both the UK and the US will announce their retail sales data.
No significant move for Rupiah and stock market, on the last day of trade last week,. Rupiah against US dollar only strengthened by 0.02 percent to 14,085. While, the Jakarta Composite Index fell by 0.06 percent to 6,405.86 with Rp1,04 trillion foreign outflows.
May you have a profitable week!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia