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Apparently, most of the coffee in Egypt comes from Indonesia

10

Oct

Apparently, most of the coffee in Egypt comes from Indonesia

“This is the reason why I bring a prospective investor from Egypt to Gorontalo, to look for coffee suppliers, especially for Robusta,” said Helmy [...]

Apparently, most of the coffee in Egypt comes from Indonesia. “This is the reason why I bring a prospective investor from Egypt to Gorontalo, to look for coffee suppliers, especially for Robusta,” said Helmy at the “2016 Indonesia Middle East Update (IMEU)” event, which took place in Gorontalo, 9-11 October 2016.He explained that Indonesia’s relationship with Egypt has always been very tight, especially in the form of socio-cultural interaction, with about 4,500 Indonesian students currently studying in Egypt, so that this interaction can then be approached from another dimension, namely, trade, investment, and tourism.According to him, Indonesian products are currently doing well in the Egyptian market, although their volume is still small, at about 1.42 percent.On the other hand, Egypt’s export to Indonesia is only about 0.09 percent, but its volume keeps rising quite rapidly.“In the first semester alone, the trade volume between these two countries has reached nearly 1 billion US dollars, and is still rising,” he explained.
Editor: Aditia Marulihttp://www.antaranews.com/berita/589355/kopi-di-mesir-ternyata-banyak-yang-dari-indonesia

IMF chief praises President Jokowi's economic policy reforms

07

Oct

IMF chief praises President Jokowi's economic policy reforms

"It will be great to witness in person the reforms that are taking place," Lagarde said in a press conference at the IMF Headquarters in Washington [...]

IMF chief praises President Jokowi's economic policy reforms. `It will be great to witness in person the reforms that are taking place,` Lagarde said in a press conference at the IMF Headquarters in Washington DC, United States, on Thursday local time. Lagarde made the statement in response to the upcoming 2018 Annual Meetings of the IMF and the World Bank in Bali, Indonesia. According to Lagarde, President Joko Widodo’s policy reforms, particularly the reduction in fuel subsidies, have created fiscal space for developing infrastructure and public services such as education and health. Indonesia is also considered to have commendable resilience due to its economy continuing to grow amidst the ongoing slowdown in global economic growth. `I find the meetings [in Indonesia] -- which will be very important for the region, because it's one of the parts of the world that continues to grow quite strongly, where regional cooperation through ASEAN, ASEAN+3 and others,` Lagarde said.The IMF Managing Director also mentioned the importance of the Chiang Mai Initiative (CMI) cooperation carried out by ASEAN+3 (10 ASEAN countries + Japan, South Korea, China), which makes it possible for member countries to swap local currencies with US dollars in a maximum amount that is the member country's contribution multiplied by a multiplier number. `There is a lot of development in terms of regional cooperation that can be illustrated by Indonesia,` she said. The IMF believes that regional cooperation is important for creating an inclusive economy that will grow together without leaving out the others. The IMF and the World Bank will hold the Annual Meetings in 2016 from October 7-9, amidst the ongoing slowdown in global economic growth.The International Monetary Fund announced that world economic growth in the fourth quarter of 2016 was 3.1 percent and is projected to rise to 3.4 percent in 2017.
Editor: AA Ariwibowo
http://www.antaranews.com/berita/588853/direktur-imf-puji-refomasi-kebijakan-ekonomi-presiden-jokowi

Policy Package, Indonesian Economy Believed to be Above World Bank Prediction

06

Oct

Policy Package, Indonesian Economy Believed to be Above World Bank Prediction

Secretary-General of Coordinating Ministry for Economic Affairs Lukita Dinarsyah Tuwo stated that the Indonesian economy could rise above 5.3 percent [...]

Policy Package, Indonesian Economy Believed to be Above World Bank Prediction. Secretary-General of Coordinating Ministry for Economic Affairs Lukita Dinarsyah Tuwo stated that the Indonesian economy could rise above 5.3 percent if the 13 economic policy packages can be implemented effectively.
`The World Bank predicts our economy will be at 5.3 percent next year and 5.5 percent the year after, but we are optimistic that if all (policy packages) are implemented, the economy should be able to exceed the World Bank's prediction,` Lukita explained at the Bank Indonesia Building on Thursday (6/10/2016).
He explained that if the government did not release these policy packages, economic growth could be below 5.1 percent. Unfortunately, many parties still believe the policy packages are not yet effective enough and do not encourage economic growth in regional areas.
`The economic growth in 2017 will be at 5.1 percent. But many people say the economic packages are not effective yet, so just imagine what would happen if the policy packages did not exist, it would probably drop even lower,` he explained.
`If we look at the policy packages from 1 to 13, the impact does vary. But it is true that we suffer from a chronic ailment, that is why this policy was issued. We hope that this will be what revives our economy,` he added.
(rai)
http://economy.okezone.com/read/2016/10/06/20/1507564/paket-kebijakan-ekonomi-ri-diyakini-di-atas-prediksi-world-bank

CPO PRICE OCTOBER 6: Further Weakening, Still Affected by Soybean Oil Price

06

Oct

CPO PRICE OCTOBER 6: Further Weakening, Still Affected by Soybean Oil Price

The December 2016 CPO futures contract, the most active contract on Bursa Malaysia, fell 0.63% or 16 points to RM2,540 (US$621.87) per ton at 10:19 [...]

World Bank sees steady economic growth for Asia Pacific

05

Oct

World Bank sees steady economic growth for Asia Pacific

"A global financial tightening, a further slowdown in global growth or an earlier deceleration in China would test the resilience of East Asia," said [...]

World Bank sees steady economic growth for Asia Pacific. `A global financial tightening, a further slowdown in global growth or an earlier deceleration in China would test the resilience of East Asia,` said the World Bank's Chief Economist for the East Asia and Pacific Region, Sudhir Shetty, during a teleconference with journalists in Jakarta on Wednesday. The World Bank's latest East Asia and Pacific Economic Update projects that China will continue to transition to slower but still solid growth rates of 6.7 percent in 2015, 6.5 percent in 2017, and 6.3 percent in 2018. Growth in the rest of the region is projected to hold steady at 4.8 percent this year, increasing to 5.0 percent in 2017, and 5.1 percent in 2018. Overall, developing East Asia is expected to grow by 5.8 percent in 2016 and 5.7 percent in 2017-18. In China, growth will moderate as the economy continues to shift toward consumption, services and higher value-added activities, with a reduction of industrial overcapacity. However, a tightening labor market will continue to support wage growth and household consumption. Among developing economies, prospects are particularly strong for the Philippines, where growth is expected to accelerate to 6.4 percent in 2016, and Viet Nam, where growth this year was held back by severe drought but is expected to rebound to 6.3 percent in 2017. `In Indonesia, growth is projected to rise steadily from 4.8 percent in 2015 to 5.5 percent in 2018, conditional on increased public investment, continued improvement in the investment climate, and revenue mobilization,` said Shetty. Growth in Malaysia, on the other hand, is forecast to slow sharply to 4.2 percent in 2016 from 5.0 percent in 2015, due to weaker global demand for oil and gas exports. Meanwhile, growth prospects have deteriorated for several commodity exporters. Mongolia's economy is projected to grow by just 0.1 percent in 2016, down from 2.3 percent in 2015, due to weak mineral exports and debt overhang. Papua New Guinea's economy is forecast to grow 2.4 percent in 2016, down from 6.8 percent in 2015, reflecting lower prices and output for copper and gas. Policy Recommendations To foster inclusive growth in East Asia and the Pacific, the World Bank recommends a range of policy measures. First, China should build on its past success in reducing poverty by improving access to public services for rural residents and the growing numbers of migrants moving to urban areas. Second, other countries need to address infrastructure gaps by rebalancing public spending, enhancing public-private partnerships, and improving the efficiency of public investment management. Third, the World Bank recommends expanding early childhood development programs and micronutrient interventions to address widespread malnutrition. High rates of child stunting in many countries, even middle-income ones like Indonesia and the Philippines, lead to irreversible health deficits. Finally, East Asia and Pacific countries should harness the potential of technology to transform financial services and increase financial inclusion. `The region is quite advanced technologically, with high mobile penetration, but lags in access to financial services,` said Shetty.
Editor: Suryanto
http://www.antaranews.com/berita/588527/bank-dunia-nilai-pertumbuhan-ekonomi-asia-pasifik-stabil

05

Oct

Asia-Pacific economies grow

IMF chief economist Maurice Obstfeld said in a press conference broadcast live from Washington DC, United States on Tuesday at 09:00 AM local time [...]

Asia-Pacific economies grow. IMF chief economist Maurice Obstfeld said in a press conference broadcast live from Washington DC, United States on Tuesday at 09:00 AM local time the number was slightly higher than the IMF's estimate in July 2016 at 4.1 percent and was expected to reach 4.6 percent in 2017.  `Overall, Asia-Pacific continues to show resilience amid the global slowdown,` he stated.  Despite the growth, the IMF noted that there were significant resilience differences among developing economies in the regions. In the Asia-Pacific Region, Chinas economic recovery remained the main factor influencing the economies of surrounding developing countries, including through government policies continuing to shift their dependence from investment and industry towards consumption and services. The policy was estimated to slow down short-term growth, but at the same time could build a foundation for long-term more sustainable economic expansion. However, Obstfeld stated that the Chinese government must act quickly to control credit, which is `increasing at an alarming pace`, and to stop granting capital to unprofitable state-owned companies. Amidst the recovery, the IMF estimated that the Chinese economy would grow 6.2 percent in 2017, lower than the 6.9 percent growth rate in 2016. To increase growth amidst the global slowdown, the IMF encouraged developing countries to continue reforming structurally in order to increase job creation, adaptability of job specialization, and to reduce trade barriers. The IMF will be holding a press conference regarding economic estimates for Asia-Pacific region countries, including Indonesia, on Thursday (Oct 6).
Editor: Ade Marboen
http://www.antaranews.com/berita/588429/ekonomi-asia-pasifik-bertumbuh

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