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INDONESIA: Country Wrap: Government in Tight Fiscal Spot. 

INDONESIA
EM BulletBulletIndonesiaAPACEmerging Market News
  • Indonesia is adjusting its budget to reduce state spending by about 8.5% this year, signaling the government is grappling with a tight fiscal space to fund projects after scaling back a tax hike plan due to a public backlash.  (source: BBG).
  • Prabowo to meet Modi to discuss security, economic cooperation (source: Jakarta Post).
  • To promote business collaboration and bilateral cooperation between the Hong Kong and Indonesia, (source: Jakarta Post).
  • The Jakarta Comp has turned down today by -.25% but on track for a +.85% week.
  • IDR: the rupiah is up +0.57% today and +1.1% for the week.
  • Bonds: strong rally across the curve today INDOGB 10YR -2.5bp 7.05%. 
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  • Indonesia is adjusting its budget to reduce state spending by about 8.5% this year, signaling the government is grappling with a tight fiscal space to fund projects after scaling back a tax hike plan due to a public backlash.  (source: BBG).
  • Prabowo to meet Modi to discuss security, economic cooperation (source: Jakarta Post).
  • To promote business collaboration and bilateral cooperation between the Hong Kong and Indonesia, (source: Jakarta Post).
  • The Jakarta Comp has turned down today by -.25% but on track for a +.85% week.
  • IDR: the rupiah is up +0.57% today and +1.1% for the week.
  • Bonds: strong rally across the curve today INDOGB 10YR -2.5bp 7.05%.