Free Trial

FinMin Indrawati Sees Narrower Budget Deficit

IDR

Spot USD/IDR has stabilised after printing fresh cycle lows, last sits virtually unchanged at IDR14,074. A fall through the psychological IDR14,000 figure would bring Feb 16/Jan 4 lows of IDR13,873/13,865 into play. Bulls look for a rebound above May 10 low of IDR14,145 towards Oct 13 high of IDR14,224.

  • USD/IDR 1-month NDF last seen +34 figs at IDR14,108. Bulls keep an eye on the 50-DMA at IDR14,325, while bears set their sights on Oct 15 low of IDR14,058, followed by Feb 16 low of IDR13,908.
  • FinMin Indrawati narrowed her budget deficit forecast for this year to 5.3%-5.4% of GDP and said that it could be lower than the 4.85% of GDP pencilled in for 2022, as she expects economic recovery, tax law reform and rising commodity prices to boost revenue. The Minister noted that GDP may have grown 5% in Q3 (final data is due Nov 5) and may pick up again in Q4.
  • Indonesia's thin economic docket for this week is headlined by the monetary policy decision from the local central bank, coming up tomorrow. Analysts are unanimous in expecting Bank Indonesia to leave policy settings unchanged.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.