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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndonesia's new government should aim to increase its tax revenue: Chatib BasriChatib Basri of Bank Mandiri says the solution to expanding the Indonesian government budget lies not with increasing the tax rate but with administrative reform in the tax office.
Persons: Mandiri
Indonesia's President Joko Widodo speaks about the planned new capital Nusantara, at Ecosperity Week in Singapore June 7, 2023. REUTERS/Edgar Su/File Photo Acquire Licensing RightsJAKARTA, Sept 26 (Reuters) - Indonesian President Joko Widodo on Tuesday launched the country's first carbon emission credit trading, with the aim of creating a market to fund cuts in greenhouse gas emissions and become a major participant in the global carbon trade. Jokowi, as the president is popularly known, said Indonesia has tremendous potential for carbon reduction efforts, particularly nature-based solutions, and its carbon market could grow to 3,000 trillion rupiah ($194.30 billion). Some of Indonesia's biggest coal power plants have begun trading emission allowances since February. Transactions in the emission trading system are recorded using blockchain technology, Luhut said.
Persons: Joko Widodo, Edgar Su, Jokowi, Luhut, Stefanno Sulaiman, Gayatri Suroyo, Martin Petty Organizations: Nusantara, REUTERS, Rights, Tuesday, Pertamina, Indonesia Stock Exchange, Bank Central Asia, Bank, Christian, Thomson Locations: Singapore, Rights JAKARTA, Indonesia, North Sulawesi, Paris
The firm debut by Harita Nickel could boost sentiment surrounding upcoming IPOs in Indonesia, which is one of the world's hottest IPO markets this year on a drive by the government to privatise some state-owned enterprises. Harita Nickel's stock opened at 1,285 rupiah per share, slightly higher than its initial public offering (IPO) price of 1,250 rupiah a share, on the Indonesian stock exchange. The IPO comes at a time when nickel-rich Indonesia steps up efforts to become a major player in the electric vehicle industry. Harita Nickel's peer Merdeka Battery Materials is scheduled to debut on the local bourse next, on April 18, after raising 8.75 trillion rupiah. Harita Nickel's IPO was the largest in Indonesia in almost a year after the $1.1 billion listing of tech firm GoTo (GOTO.JK) in April.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's 'inevitable' that Indonesia's GDP growth will be slower in 2023, former finance minister saysChatib Basri, chairman of Bank Mandiri and former Indonesian finance minister, says that's because declining commodity and energy prices will hit the country's exports.
Governor of Bank Indonesia Perry Warjiyo speaks during the annual meeting of Indonesia's central bank with its financial stakeholders in Jakarta, Indonesia, November 30, 2022. REUTERS/Willy KurniawanBut availability of energy subsidies next year would let Bank Indonesia (BI) moderate rises in interest rates, Warjiyo said. “Interest rate policy will be front-loaded, pre-emptive and forward looking while being done in a measured way to reduce inflation expectations, which currently remain high,” he said at an annual gathering of bankers, government officials and the central bank. Policy synergy between the central bank and the government would be important to maintain next year in order to control prices, the governor said. They will be maintained at a slightly higher level of 211.98 trillion rupiah in 2023 budget.
Summary Trade data due at 0400 GMT on Tuesday, Nov. 15JAKARTA, Nov 14 (Reuters) - Indonesia's trade surplus is seen narrowing slightly in October to $4.5 billion, amid weakening in global trade and moderating commodity prices, a Reuters poll showed on Monday. The median forecast from 15 economists in a Reuters poll was for a $4.5 billion surplus in October, below September's surplus of nearly $5 billion. Export growth was seen at 13.85% annually in October, slower than September's 20.28%, while imports were seen up 23.62% on a yearly basis, versus 22.02% in September. Bank Mandiri's economist Faisal Rachman, who predicted a $4.42 billion October surplus, said while export growth was slowing, demand for imports was rising in preparation for year-end needs. Still, the Indonesian government has forecast the resource-rich nation will book its biggest exports on record this year of $292 billion.
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