Consumption Remains the Backbone of the Indonesian Economy

By Editorial Team 24/09/2019
Summary

The government and the House of Representatives have approved to pass the 2020 state budget draft in the budget committee meeting led by the head of the committee, Kahar Muzakar. Around 34 of 98 representatives from 9 fractions were present in the meeting. All of them agreed to discuss the state budget law draft in the plenary session. The Finance Minister Sri Mulyani, the head of the National Planning Agency, Bambang Brodjonegoro, and the governor of Bank Indonesia, Perry Warjiyo, were also in attendance.

Several basic assumptions in the 2020 state budget draft are:

  • 5.3 percent economic growth
  • 3.1 percent inflation rate
  • Rupiah exchange rate: Rp 14,400 per US$
  • 5.4 percent three-month treasury bill yields
  • Indonesian crude oil price (ICP): US$ 63 per barrel
  • Oil lifting target: 755 thousand per barrel per day
  • Gas lifting target 1.19 million barrels of oil equivalent per day

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.