VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has assured adequate supply of fuel oil ahead of the Christmas and New Year celebrations. "We have seen the availability of available stocks in these areas. Indeed there are one or two whose stocks must get attention. But, it can be sent and it seems that it is close to those areas, "Arifin told the press when reviewing national coordination center at the office of The Downstream Oil and Gas Regulatory Agency (BPH Migas), Jakarta, Monday.

The areas where the majority of the population celebrate Christmas also received priority for the allocation of fuel, Arifin said.

In addition, Arifin who is also the former Indonesian Ambassador to Japan urged the officials from State-Owned Enterprises to coordinate with others in an attempt to meet the fuel needs of the community.

"We ask state-owned electricity firm PLN, State-owned gas distributor PT Perusahaan Gas Negara (PGN) and State-owned oil and gas holding company Pertamina to cooperate and synergize with different agencies," the minister said.

So far, there have been no significant obstacles, bearing in mind the various challenges that can be anticipated, according to Arifin.

"So far, it can be seen that we anticipated correctly," he said.

A National Coordination Center of Energy and Mineral Resources sector has also been arranged on every island in Indonesia, Head of The Downstream Oil and Gas Regulatory Agency (BPH Migas) Fanshurullah Asa said.

"We have arranged for a national coordination center on each island. We send officers to check the supply of fuel," he said.

Indonesian crude oil prices reached US$63.26 per barrel in November, the highest figure since May, mainly driven by market optimism for a cool down in the United States-China trade frictions.

Crude oil price movements will affect the government's oil and gas revenue as well as the energy subsidy it needs to spend during the fiscal year.

November saw an increase in crude oil prices of 5.7 percent month-to-month, which aligned with the rising prices of international benchmark Brent and West Texas Intermediate (WTI), which respectively rose 5.5 percent and 5.7 percent over the same period.

Bloomberg reported on Wednesday that the US expected to complete “phase-one” of a trade deal with China before US tariffs on Chinese products were set to rise on Dec. 15. The deal is slated to happen despite US President Donald Trump’s comment about closing a trade deal after next year’s US presidential election.

The trade spat between the world's two-largest economies has weakened international trade and eventually slowed global economic growth.

The International Monetary fund (IMF) said in its October World Economic Outlook that it expected global growth to stand at 3 percent this year, the lowest level since 2009 and down 0.3 percentage points from the April 2019 World Economic Outlook. While global growth is projected to pick up to 3.4 percent in 2020, that would still be 0.2 percentage points less than predicted in the April assessment.

“Rising trade and geopolitical tensions have increased uncertainty about the future of the global trading system and international cooperation, taking a toll on business confidence, investment decisions and global trade,” the IMF report says.

In addition to cooling tensions between the US and China, several developments with regard to geopolitical issues also have provided optimism.

“The European Union’s decision to delay Brexit until the end of the English Parliament’s elections in early January 2020 also prevented the development of substantial short-term economic risks,” the Energy and Mineral Resources Ministry said in a statement.

According to the country's state budget, the government has set crude oil price assumptions at $70 per barrel this year and $65 per barrel next year.

Consumer Price Index (CPI) inflation remained low and under control in November 2019 as it was recorded at a low rate of 0.14 percent (mtm) in November 2019, supported by lower core inflation and stable inflationary pressures on administered prices.

Consequently, CPI inflation as of November 2019 reached 2.37 percent (ytd), or 3 percent (yoy) annually, down from 3.13 percent (yoy) in October 2019, Director of Bank Indonesia's Communication Department, Junanto Herdiawan, said in a statement here, Wednesday.

Bank Indonesia has consistently maintained price stability and strengthened policy coordination with the central and local governments to ensure inflation is maintained within the target corridor.

Therefore, Bank Indonesia projects low CPI inflation for 2019 at around 3.1 percent, while maintaining CPI inflation within the target range of 3.0 percent ±1 percent in 2020.

Lower core inflation has helped control CPI inflation, which stood at 0.11 percent (mtm) in the reporting period, decreasing from 0.17 percent (mtm) the previous month.

Commodity-wise, the main contributors to lower core inflation were noodles and rice with a side dish, for which prices returned to normal after an increase during the previous period.

Meanwhile, other commodities, such as house rental prices, contributed to core inflation in November 2019. Annually, core inflation was recorded at 3.08 percent yoy in November 2019, down from 3.20 percent yoy in October 2019.

Controlled core inflation was linked to rational inflation expectations in line with policy consistency by Bank Indonesia to maintain price stability, manage aggregate demand, ensure the exchange rate moves in line with the currency's fundamental value and minimize the impact of global prices.

Inflationary pressures on administered prices (AP) are stable. AP inflation was recorded at 0.03 percent mtm in the reporting period, unchanged from the previous month.

Such developments were explained by higher cigarette prices, which were offset by lower airfares. Cigarette prices have continued to rise after a policy was announced to raise cigarette excise tax in 2020.

On the other hand, airfares experienced another period of deflation in line with low seasonal demand. Annually, administered prices inflation stood at 1.08 percent yoy in November 2019 compared with 1.58 percent yoy the previous month.

In line with seasonal trends, volatile foods (VF) experienced inflation in the reporting period. VF recorded 0.42 percent (mtm) inflation in November 2019, reversing the previous 0.47 percent (mtm) deflation posted in October 2019.

The main contributors to VF inflation were the higher prices of shallots, tomatoes, purebred chicken meat and eggs, leaf amaranth and oranges.

The prices of shallots and vegetables were edged up by a delayed planting season due to a prolonged dry season.

Meanwhile, inflationary pressures on purebred chicken meat and eggs stemmed from increasing seasonal demand towards the end of the year. Annually, volatile food inflation increased to 5.02 percent (yoy) from 4.82 percent (yoy) in the reporting period.

The Ministry of Trade through the Directorate General of National Export Development (PEN) will hold the 4th Good Design Indonesia, an award for best design product, in 2020. The competition becomes the real support of the Ministry of Trade in motivating and encouraging businesses to develop design-oriented Indonesian products in the global market.

"Through Good Design Indonesia, we can introduce domestic products that have added value through the development of designs, while at the same time encouraging the performance of Indonesia's non-oil exports to the world market," Director General of National Export Development Dody Edward said in a statement here Tuesday.

The registration will be open from January 2 to March 31, 2020. This event is open to all businesses and designers, Edward explained.

To participate in the competition, products must be manufactured and marketed in Indonesia and designed by Indonesian designers.

Entrepreneurs and designers interested in participating can register their products through the site http://iddc.kemendag.go.id/gdi/.

Edward revealed 18 product categories that were selected for the Good Design Indonesia 2020, namely accessories and personal items; children and stationery; comfort and hobbies; kitchen utensils and daily necessities; home furniture and household goods; household appliances; and information and communication technology equipment.

Besides, home supplies; mobility; equipment and facilities for manufacturing and medical treatment; equipment and facilities for shops, offices and public spaces; private housing, small apartments; housing (housing complex) medium to large, and construction for industrial, commercial and public facilities. Then, media, contents, and packaging; systems and services; business models and methods; projects and activities.

The Good Design Indonesia 2020 will focus on the value of sustainable lifestyles that look at products from the perspective of users, industry, social, and the masses, according to Dody. The participants are expected to package their products with stories that are filled with ideas and concepts about the creation of a product.

Indonesian business people and designers were eagerly looking forward to the event, Dody asserted.

The winners will receive several benefits, including product publicity, appearing in national and international product exhibitions, recognition for wearing the Good Design Indonesia logo, as well as the opportunity to take part in the G-Mark event.

Also, the Ministry of Trade will facilitate the winners to be included in business forums or exploring foreign trade agreements, as well as being displayed on the permanent trade display of the Indonesian Trade Promotion Center (ITPC).