Indonesia Economic Quarterly, July 2013 : Adjusting to Pressures

Indonesia Economic Quarterly, July 2013 : Adjusting to Pressures

The second quarter of 2013 was an eventful one as Indonesia's economy, policy settings and financial markets adjusted to pressures which have been mounting over recent quarters and to shifts in the global environment. Following slightly weaker...

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Bibliographic Details
Main Author:	World Bank
Format:	Economic Updates and Modeling
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ACCOUNTING ADVERSE IMPACT AGRICULTURE ASSET MARKETS ASSETS BALANCE OF PAYMENTS BANK CREDIT BANK DEPOSIT BANKING SECTOR BASIS POINTS BENCHMARK BENEFICIARIES BOND FLOW BOND ISSUANCE BOND MARKETS BOND SPREADS BOND YIELD CURVE BUDGET DEFICIT CAPACITY CONSTRAINTS CAPITAL ACCOUNT CAPITAL FORMATION CAPITAL GOODS CAPITAL INVESTMENT CASH TRANSFER CASH TRANSFERS COMMERCIAL BANK COMMERCIAL BANK LENDING COMMODITIES COMMODITY COMMODITY EXPORT COMMODITY EXPORTS COMMODITY PRICES CONFIDENCE INDEX CONSUMER EXPECTATIONS CONSUMER GOODS CONSUMER PRICE CONSUMER PRICE INDEX CONSUMER PRICES CONSUMERS CONSUMPTION EXPENDITURE CORPORATE BOND CORPORATE BOND ISSUANCE CORPORATE PROFITS CREDIT GROWTH CREDIT MARKETS CURRENCY CURRENCY DEPRECIATION CURRENCY EARNINGS CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT FINANCING DEBT LEVELS DEBT MANAGEMENT DEBT STOCK DEPOSIT DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DIRECT INVESTMENT DISBURSEMENTS DISINFLATION DOLLAR BOND DOLLAR VALUE DOMESTIC BOND DOMESTIC BOND MARKET DOMESTIC BONDS DOMESTIC EQUITIES DOMESTIC FINANCIAL MARKETS DOMESTIC GOVERNMENT BONDS DOMESTIC PRICE ECONOMIC ASSUMPTIONS ECONOMIC DEVELOPMENT ECONOMIC OUTLOOK ECONOMIC SECTORS EMERGING MARKET EMERGING MARKET ASSETS EMERGING MARKET EQUITIES EMERGING MARKETS ENERGY PRICES EQUIPMENT EQUITIES EQUITY INDICES EQUITY PRICE EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT REVENUES EXPORT SHARE EXPORTS EXPOSURES EXTERNAL DEBT EXTERNAL FINANCING FEDERAL RESERVE FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENTS FINANCIAL MARKET PARTICIPANTS FINANCIAL MARKETS FINANCIAL SERVICES FINANCIAL SYSTEM FISCAL DEFICIT FISCAL POLICY FIXED CAPITAL FIXED INVESTMENT FOOD PRICE FOOD PRICES FOREIGN CAPITAL FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN FINANCING FOREIGN HOLDINGS FOREIGN INVESTORS FUTURE GROWTH GDP DEFLATOR GLOBAL ECONOMY GOLD PRICE GOVERNMENT BOND GOVERNMENT BOND YIELD GOVERNMENT BOND YIELDS GOVERNMENT DEBT GOVERNMENT FINANCES GOVERNMENT FINANCING GROSS DEBT GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION HUMAN RESOURCES IMPORT IMPORT GROWTH IMPORTS INCOME INCOME TAX INCOME TAXES INFLATION INFLATION EXPECTATIONS INFLATION RATE INFLATIONARY EXPECTATIONS INFLATIONARY PRESSURES INTEREST RATES INTERMEDIATE GOODS INTERNATIONAL BANK INTERNATIONAL FINANCIAL MARKET INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL MARKET INTERNATIONAL TRADE INVENTORIES INVESTMENT ACTIVITY INVESTMENT SPENDING INVESTOR CONFIDENCE ISSUANCE LAND VALUES LIQUIDITY LIQUIDITY RISK LOAN LOCAL CURRENCY MACROECONOMIC INDICATORS MACROECONOMIC POLICY MARKET CONDITIONS MARKET DEMAND MARKET DEVELOPMENTS MARKET PERFORMANCE MARKET PRICE MARKET PRICES MARKET VOLATILITY MERCHANDISE MERCHANDISE TRADE MONETARY POLICY NET EXPORTS NON-PERFORMING LOANS OIL PRICE OIL PRICES OUTPUT PENSION PORTFOLIO PORTFOLIO CAPITAL PORTFOLIO CAPITAL INFLOWS POVERTY REDUCTION PRICE ADJUSTMENT PRICE INCREASE PRICE INCREASES PRICE INFLATION PRICE LEVEL PRIMARY MARKET PROPERTY LENDING PROPERTY MARKET PUBLIC FINANCES PURCHASING PURCHASING POWER RAPID DEVELOPMENT RATE OF GROWTH REAL EXCHANGE RATE REAL GDP REAL INVESTMENT REGULATORY ENVIRONMENT RESIDENTIAL MORTGAGES RETAIL RISE IN INFLATION SALES SALES GROWTH SAVINGS SECONDARY MARKET SOCIAL PROTECTION SOLVENCY STOCKS STRONG DEMAND SURPLUS TAX TAX COLLECTION TAX REVENUES TOTAL DEBT TRADE BALANCE TRADE DEFICIT TRADE POLICY TRADE SURPLUS TRADING TREASURY TREASURY YIELDS UNEMPLOYMENT UNEMPLOYMENT RATE URBANIZATION VALUE ADDED VARIABLE RATE WAGE GROWTH WAGES WORKING CAPITAL
Online Access:	http://documents.worldbank.org/curated/en/2013/07/17966049/indonesia-economic-quarterly-adjusting-pressures http://hdl.handle.net/10986/16613

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Summary:	The second quarter of 2013 was an eventful one as Indonesia's economy, policy settings and financial markets adjusted to pressures which have been mounting over recent quarters and to shifts in the global environment. Following slightly weaker-than-expected growth in the first quarter, there are signs that domestic demand, particularly investment, has continued to moderate. On the fiscal front, the combination of lower revenues and higher subsidy spending continued to pressure public finances. A revised Budget, incorporating a long a waited increase in subsidized fuel prices, along with a comprehensive compensation package to reduce the impact of higher fuel prices on the poor, was approved on June 17. Meanwhile, international financial markets have reacted strongly to the prospect of quantitative easing in the US winding down in coming quarters, triggering a major sell-off in emerging market assets, including Indonesia, prompting Bank Indonesia (BI) to adjust interest rates higher.

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