• Fiscal Update Indonesia: Can the 3% of GDP Budget Deficit Cap Be Widened?

    A commission in Indonesia's House of Representatives advises the government to replace a law that sets a maximum budget deficit limit of 3 percent of gross domestic product. This law was implemented in 2003 after Indonesia experienced the devastating effects of the Asian Financial Crisis in the late 1990s. Traumatic experiences made the government decide to prioritize prudent fiscal policies. Although it is unclear what the exact consequences are if the government would breach this cap (perhaps an impeachment bid could be launched), governments always respected the cap.

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  • Indonesia Issues Travel Warning to Singapore due to Zika Virus

    Indonesia's Ministry of Health - in coordination with the Ministry of Foreign Affairs - issued a 'travel advisory' for Singapore as the small Southeast Asian nation has been plagued by an outbreak of the Zika virus. By Wednesday (31/08), 82 people were reported to have been infected by the virus in Singapore. By issuing the travel advisory Indonesian authorities discourage citizens from traveling to Singapore, particularly pregnant women are warned. Indonesia is no stranger to mosquito-borne illnesses. The country has to cope with frequent outbreaks of dengue fever and malaria.

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  • IPO News Indonesia: Offering of Waskita Beton Precast

    Precast concrete producer Waskita Beton Precast is expected to raise IDR 5.16 trillion (approx. USD $391 million) from an initial public offering (IPO) on the Indonesia Stock Exchange. As such, the IPO of the company, a unit of listed state-controlled construction company Waskita Karya, could be the biggest offering of the past five years. After the book-building process has been completed, the price of one Waskita Beton Precast share is expected to be IDR 490 a piece. However, the final price will be announced on 1 September 2016.

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  • Authorities Indonesia to Limit Visitor Numbers at Borobudur Temple

    Nadjamuddin Ramly, Director of Heritage and Cultural Diplomacy at Indonesia's Ministry of Education and Culture, said authorities plan to limit the number of visitors that are allowed to enter the Borobudur temple in Magelang (Central Java) to 15 people at one time. This move would relieve rising pressure on the structure of the ancient building. Especially in weekends and holidays hundreds of visitors enter the site causing concern about the preservation of the temple that is listed by UNESCO as a World Heritage Site.

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