Close
Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Slip, Sliding Around
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Slip, Sliding Around

Former Indonesian Economic Minister Predicts Continuing Decline in Value of Indonesian Rupiah


Bali News: Slip, Sliding Around
Click Image to Enlarge

(8/25/2013)

The exchange value of the Indonesian Rupiah against the US Dollar continues to weaken. On Monday August 19, 2013, the rate-of-exchange touched Rp. 10,645 to the greenback.

 
Quoted by The Bali Post, economist Riza Ramli said: “I think it is just a matter of time. The rupiah will touch Rp. 11,000 to the dollar. The reason? The Market was very disappointed with President Yudhoyono’s (recent) speech on the economy.”
 
Moving steadily toward the predicted level of Rp. 11,000, the rate on Sunday, August 25, 2013 stood at Rp. 10,921 to the dollar.
 
According to the former Coordinating Minister for the Economy during the presidency of Abdurrahman Wahid, the market viewed President Yudhoyono’s comments on the economy as very unrealistic and failing to provide answers on the steps that must be taken in order that macro-indicators on the Indonesian economy can improve.
 
Riza Ramli predicts that the value of the Indonesian Rupiah will continue to deteriorate due to a number of factors, including a trade deficit for the quarter approaching US$ 6 billion dollars, and a deficit in the balance of payments of between US$6.3 –US$6.5 billion. Riza also said the decline in the rupiah will also make the cost of imported fuel more expensive, adding additional cost to the State Budget.
 
Unfortunately, according to Riza, the added burden to the National Budget comes at a time when some US$27 billion in private sector debt also falls due. Describing the worsening situation ahead, the former cabinet minister predicts food prices will also soon increase.
 
Riza expressed disappointment, saying that the monetary condition of Indonesia is substantially different from 2008 when the economic fundamentals were substantially sounder.
 
“(At that time) the balance of trade and the balance of payments were both  in surplus, minimizing the effects of the U.S. recession on Indonesia,” said Rizal.
 
In his economic address just the week before, President Yudhoyono spoke of the weak position of the Indonesian Rupiah against the U.S. Dollars. The President insisted any weakness in the Rupiah was less severe when compared with other Asian countries’ currencies – such as Australia, Malaysia, Philippines, South Korea and Japan.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.


 
 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
When You Gotta Go, You Gotta Go
27-Year Old Australian Man Standing Trial in April 2014 Hijacking Scare on a Bali-Bound Virgin Australia Flight
(10/31/2014)
Now, Let us Pray
Religious Affair Minister Lukman Hakim Saifuddin Proposes Legislation to End Religious Persecution in Indonesia
(10/31/2014)
Bali's Man at the Presidential Palace
A.A. Gede Ngurah Puspayoga is Sole Balinese Named to Joko Widodo's Presidential Cabinet
(10/31/2014)
Vox Populi in Bali
Province of Bali Introduces Monthly Open Forum to Allow Citizens to Voice Criticism and Recommendations to Provincial Officials
(10/31/2014)
Conned by Condotels?
Marketer and Developer of Swiss-Belhotel Bali Condotel Project in Bali Being Sued by Unhappy Purchasers
(10/31/2014)
When Governments Fail to Act
Bankruptcy of Kintamani Restaurants Blamed on Bad Governance
(10/31/2014)
Arief Yahya Named Indonesia's Minister of Tourism
President Joko Widodo Picks Telkom CEO to be Indonesia's Tourism Czar
(10/31/2014)
Christmas Holiday Start for AirAsia X Bali-Melbourne Service
Indonesia AirAsia X to Start Flights Five Times Each Week Bali-Melbourne on December 26, 2014
(10/31/2014)
Tourism Drawing Lines in the Sand
Indonesian Minister of Tourism Label Malaysia and Thailand as 'Common Enemies' of Indonesian Tourism - Calling for Better Information Technology and Enhanced Hygiene
(10/31/2014)
Will Bali Put Crooked Moneychangers Out of Business?
Bank Indonesia Changing Registration Rules for Bali Moneychangers
(10/31/2014)
Beyond Bali
ASITA Calls on New Tourism Minister to Focus on More than Merely Bali in Designing Tourism Policies
(10/31/2014)
Be it Never so Humble
Export of Knockdown House from Bali Remains Sluggish
(10/31/2014)
All [News]!