24
June

Indonesia's economic growth in the second quarter of 2019 is predicted to range between 5.05 and 5.15 percent, head of the Fiscal Policy Agency of the Finance Ministry, Suahasil Nazara, said in Jakarta on Friday.

"We predict it will reach 5.05 to 5.15 percent, better than (the growth) in the first quarter of 2019," Nazara said.

The country's economy, he said, would be supported by household consumption with the increase in public expenditure during the Eid al-Fitr festival.

In addition, the Household Non-Profit Institution (LNPRT) consumption expenditure has contributed to the economy with increased activities during the general elections.

He expressed hope that the sluggish growth of investment in the first quarter of the year would recover after business operators previously suspended activities while waiting for the result of the elections.

"We saw that investments had slightly slowed down due to the elections. Investors took a wait and see attitude and waited for the results. But we hope that from June, investment will make its contribution again," he elaborated.

However, the economic growth projection in the second quarter of 2019 was still lower than the growth in the same period of 2018 at 5.27 percent, Nazara said.

Previously, the Central Bureau of Statistic (BPS) recorded economic growth in the first quarter of 2019 at 5.07 percent with the support of household consumption, government and investment expenditure.

During the period, household consumption grew 5.01 percent, higher than the growth during the same periods in 2017 and 2018 that both recorded 4.94 percent.

The growth was also supported by the growth in government consumption at 5.21 percent due to the increase in expenditure for goods and services, as well as expenditure for civil servants.

Gross Fixed Capital Formation (PMTB) also contributed to the economic growth in the first quarter of 2019, although it only grew 5.03 percent, compared to 4.77 percent and 7.94 percent of PMTB growth during the same periods in 2017 and 2018, respectively. (ant)

23
June

President Joko Widodo (Jokowi) along with Thai Prime Minister Prayut Chan-o-cha discussed three issues in a bilateral meeting between Indonesia and Thailand at Athenee Hotel, Bangkok, Saturday (6/22).

In the bilateral meeting, the two leaders agreed to increase trade and investment cooperation and eliminate trade barriers.


At the meeting, the two leaders of the country also specifically discussed CPO and rubber. Indonesia, during the meeting, expressed its appreciation to Thailand for its support for Indonesia and Malaysia in combating discrimination against CPO.

Another thing that was also conveyed by the President was that Indonesia also appreciated Thailand's cooperation to jointly increase world rubber prices.

The Head of State also believes that Indonesia and Thailand can build good cooperation, not only for bilateral interests, but also for ASEAN and the world.

"I fully support Thailand's leadership in ASEAN this year," the President said in the release of the  Deputy for Protocol, Press, Media Palace, Presidential Secretariat Bey Machmudin.
President Jokowi also expressed his appreciation for Thailand's support of the ASEAN Outlook Concept on the Indo Pacific.
The last issue presented by President Jokowi was the development of Rakhine State that Indonesia conveyed the importance of the Preliminary Needs Assessment (PNA) report to be followed up immediately.
In addition, President Jokowi expressed the importance of a better security situation at the Rakhine State so that a voluntary, safe and dignified process of repatriation could be carried out.
Also present accompanied President Jokowi, Coordinating Minister for Political, Legal and Security Affairs Wiranto, Coordinating Minister for Economic Affairs Darmin Nasution, Minister of Foreign Affairs Retno Marsudi, Cabinet Secretary Pramono Anung, Minister of Trade Enggartiasto Lukita, Special Staff President Ari Dwipayana, and Indonesian Ambassador for Thailand Ahmad Rusdi. (setkab)

22
June

President Joko Widodo (Jokowi) with First Lady Iriana departed from Jakarta's Halim Perdanakusuma Airport to Bangkok, Thailand to attend the 34th ASEAN Summit on Saturday morning (6/22).

In accordance with what was stated at the last Limited Meeting, through the ASEAN Summit, President Jokowi will invite ASEAN countries to unite in anticipating a trade war between the United States and China, so that economic stability in ASEAN is maintained.


"It is very important that we invite ASEAN countries to unite," President Jokowi said in the introduction to the Limited Meeting Wednesday (19/6).
In addition to the trade war issues between the United States and China, the President will also remind commitment to the completion of the Regional Comprehensive Economic Partnership (RCEP) negotiations which are important to be improved in responding to the development of the world economy. The issue regarding the acceleration of Rakhine State peace is also planned to be touched upon by President Jokowi.


In addition to attending the ASEAN Summit, President Jokowi will also lead the 12th Summit of the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) Summit and attend the Brunei-Indonesia-Malaysia-Philippines meeting East ASEAN Growth Area (BIMP-EAGA) Summit 13.
President Jokowi is also planned to hold bilateral meetings with several leaders of ASEAN countries.
The Head of State is planned to be in Thailand until Sunday night on June 23, 2019.
Accompanying the President was on this agenda, Coordinating Minister for Economy Darmin Nasution, Coordinating Minister for Politics and Security Wiranto, Cabinet Secretary Pramono Anung, Minister of Foreign Affairs Retno Marsudi, and Minister of Trade Enggartiasto Lukita. (setkab)

23
June

Minister of Finance  Sri Mulyani Indrawati stated, until the end of May 2019, the realization of the State Budget (APBN) was still relatively good. The Purchasing Managers Index (PMI) is still above 50 and state revenues have grown by 6.2% or Rp728.5 trillion.

"When viewed from economic activity, there are several indicators that show the economy is going pretty well. This can be seen from Indonesia's PMI (Purchasing Managers Index) 51.6. A reading above 50 means that it is still expanding. So there is a significant increase in production, especially manufacturing, "said Minister of Finance in the KiTa State Budget press conference (Performance and Facts), in the Djuanda Hall, Juanda I Building, Ministry of Finance, Jakarta, Friday (6/21).

For consumption, the Minister continued, the Consumer Confidence Index (IKK) rose 128.2. The business tendency index is also positive. In general, the implementation of the State Budget until May 31, 2019 is quite good. Meanwhile, in terms of state revenues, it grew by 6.2% or Rp728.5 trillion, higher than the previous month (mtm).

"From state revenues, the growth of state revenues is 6.2%. This is better than April at 0.5%. From tax revenue growth of 5.7%. This is also better than last April's 4.7% growth. So there is strong momentum. For PNPB (Non-Tax State Revenues) the growth is 8.6%. This also improved compared to April which experienced a contraction or negative growth of 14.8%, "explained Minister of Finance.

While in terms of state expenditure, Minister of Finance Sri Mulyani Indrawati said that there was a significant increase because the allocation of social assistance had increased compared to 2018. "For state expenditure, absorption until the end of May grew compared to last year's 9.8%," he said.

The deficit realization figure until May, according to the Minister of Finance, was negative 0.79 to GDP. While the primary balance is close to 0 or a deficit of Rp. 0.4 trillion. The position of government debt is still at the level of 29.72% of GDP. (MOF)

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