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Pertamina Chief Commissioner Ahok has been ordered by President Jokowi to reduce Indonesia's fuel imports
President Jokowi was optimistic that the current account deficit and trade balance sustained by Indonesia for decades could be settled within 3 years.
President Jokowi said that in the wake of economic slowdown, the country's current account deficit or CAD should be narrowed down.
The DPR has urged the government to reduce the import of both consumer goods and raw materials for the national industry
The rupiah exchange rate weakened this morning, August 15, ahead of the trade balance release for July's performance.
The June 2019 trade balance surplus of US$196.0 million has improved the trade balance deficit in January-June 2019.
Presidential expert staffer for economic affairs Ahmad Erani Yustika says Indonesia's economy is improving as the trade balance records a surplus.
The government is looking for a solution to improve the performance of the trade balance that continues to deteriorate.
Vice President Jusuf Kalla stated the main cause of the hike of trade balance deficit is the drop of the world's commodity prices.
BI Governor believes that they need to coordinate with the central government and regional administrations to deal with the balance of payments.
January's trade balance is at a surplus of US$709.4 million, supported by a 37.59% decline in oil and natural gas imports value.
The ongoing deficit is mainly driven by the deficits in the oil and gas sector, which total US$8.58 billion between January and August 2014.
June's deficit is expected to be result of the non-oil trade surplus that cannot compensate for the oil and gas deficit.
The two sectors are expected to boost non-oil and gas trade, which is expected to reach US$190 billion
Analyst suggested investors to hold from buying and sell their stocks instead.
Export from Thailand to Indonesia is still high.
Oil fuel consumption still presents a threat to the trade balance.
The Energy and Mineral Resources Ministry has reduced its expenditures and cut down budgets for unessential side projects.
Bank Indonesia (BI) predicted that Indonesia would record a surplus in its trade balance as a result of improving exports.
BPS head Suryamin said that Indonesia`s trade balance recorded a surplus in May 2016.