Indonesia Economic Outlook
October 18, 2016Indonesia’s mild growth uptick likely continued in Q3, after GDP expanded at the fastest pace since Q4 2013 in the second quarter. Recent high frequency data have been positive: the manufacturing PMI rose in September and retail sales returned to double-digit growth in August. Moreover, signs of stabilization continue to emerge from the external sector and the trade surplus rose to a nearly two-year high in September. On the fiscal front, tax amnesty revenue collection has picked up in recent weeks and over USD 10 billion worth of assets had been repatriated by the end of September. The news is positive for the government’s efforts to widen the tax base. The budget committee approved a fiscal deficit target of 2.4% of GDP and a growth target of 5.1% for 2017 at the end of September. The government is expected to finalize the budget for 2017 in the coming weeks.
Indonesia Economy Data
5 years of Indonesia economic forecasts for more than 30 economic indicators.
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|Bond Yield||7.14||0.21 %||Oct 20|
|Exchange Rate||13,008||0.0 %||Oct 20|
|Stock Market||5,404||-0.10 %||Oct 20|
Indonesia Economic Growth
October 18, 2016Robust government spending on infrastructure projects should propel solid GDP growth this year. While the improved tax amnesty revenue collection has reduced some risks to our forecast, our panelists took a wait-and-see approach this month and held Indonesia’s GDP projection at a 5.1% expansion. Next year, our panel sees growth speeding up slightly to 5.3%.
Indonesia Economic News
October 17, 2016
Indonesia’s trade surplus rose in September to a 14-month high as imports deteriorated.
October 12, 2016
Retail sales in August expanded 14.4% over the same month last year, according to Bank Indonesia’s Retail Sales Survey (RSS).
October 3, 2016
In September, consumer prices increased 0.22% from the previous month, which contrasted the 0.02% fall recorded in August.
October 3, 2016
The manufacturing Purchasing Managers’ Index (PMI) rose from 50.4 in August to 50.9 in September, according to a release provided by Nikkei and IHS Markit.
September 22, 2016
At its 21–22 September monetary policy meeting, Bank Indonesia decided to cut the BI seven-day Reverse Repo rate (BI seven-day RR rate) from 5.25% to 5.00%.