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Macro

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Weighing the Impact of Toll Rate Hike

At least 13 toll road tariffs will increase until late 2019, such as the Jakarta-Tangerang Toll Road and Jakarta Inner Ring Road.

Political Unrest Raises Investors’ Concern

Foreign capital outflow reached US$ 1.2 billion until the third quarter of 2019, reflecting investor concerns on more slowdown in economic conditions due to political unrest.

Government Still Relies on Bonds to Seek Funding

The government is still pursuing funding through bonds issuance, eyeing Rp 7 trillion from five Sukuk series auction next week. It expects to invite more investors since the Sukuk auctions offer higher coupons than the bonds auctioned this week.

Non-Tax Revenue to Become Unreliable in the Future

Even though this year’s non-tax revenue gets a boost from Bank Indonesia’s reserve assets and the state-owned enterprises’ dividend, the government can no longer rely on it anymore in the future.