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2016-06-22 18:20:00

WBG WANTS INDONESIA

WBG WANTS INDONESIA

 

INDONESIA OIL GAS MAP

WBG wrote, Indonesia's economy continues to prove resilient with a forecasted GDP growth of 5.1 percent for 2016. But weaker than expected global economic expansion may moderate the growth recovery of Southeast Asia's largest economy, according to a new World Bank report. The World Bank recently lowered its growth projections for the world by half a percentage point than previously expected, to 2.4 percent.

Private consumption and public capital spending are projected to support growth in Indonesia in 2016. Continued policy reforms can help counter the impact of slowing demand and financial market volatility globally.

"Prudent monetary policy, increased public investment in infrastructure, and policy reforms to improve the investment climate, are helping Indonesia maintain growth in the order of 5.1 percent," said Rodrigo Chaves, World Bank Country Director for Indonesia. "But the anemic global economy is limiting much needed investment and continued reforms would help Indonesia to buoy investor confidence."

Numerous policy reforms have been announced since September 2015, with some sectors – in particular, trade and investment policy – witnessing a shift towards deregulation. However, it is not yet known whether effective implementation of policy changes is taking place, and many sectors remain closed or partly closed to foreign investment.

Increased private sector investment is essential for Indonesia, as pressures on public revenue may curtail the government's plans for much more infrastructure investments, which have supported economic growth. However, even with a lower revenue forecast and a larger fiscal deficit of 2.8 percent of GDP, World Bank calculations show that 90 percent of the original 2016 Budget investment target could be achieved.

While private consumption growth remained resilient at 5 percent year-on-year, slowing growth in fixed investment due to reduced government spending has contributed to Indonesia's real GDP growing at 4.9 percent year-on-year in the first quarter of 2016. Weak global demand continues to put pressure on exports.

Faced with the continued decline of the commodities sector, Indonesia can seize the opportunity to expand the manufacturing and services sector. Indonesia's global share of manufacturing has stagnated at around 0.6 percent over the last 15 years.

"This is a critical opportunity for Indonesia to implement further reforms that will enhance the competitiveness of its manufacturing and services sectors, especially tourism. In addition to ongoing reforms, a sound industrial strategy will be key, focused on technology transfer or capacity development in terms of product design, engineering and development in promising industries. To upgrade industries and climb the technological ladder, a strong partnership with the private sector will be crucial," said Ndiame Diop, World Bank Lead Economist for Indonesia.

Currently, Indonesia's manufacturing exports are dominated by 'low-tech' products and operations are focused mainly on blending and assembly, making the country vulnerable to changes in a multinational corporation's location strategy.

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Earlier: 

INDONESIA'S OIL DOWN 

INDONESIA SEEKS TO IRAN 

PERTAMINA NEED 51% 

СОТРУДНИЧЕСТВО РОСНЕФТИ И PERTAMINA 

INDONESIA OIL UP 835,000 

INDONESIA WOULDN'T TRY 

SAUDI INVESTMENT TO INDONESIA 

CONOCO SELLS INDONESIA 

INDONESIA NEED OIL 

INDONESIA’S SHORTFALL: $21 BLN 

INDONESIA: STOP GAS PROJECT $12 BLN 

INDONESIA BUY LNG 

PERTAMINA RAISES OIL 

INDONESIA RESTRICTS 

PERTAMINA TO IMPORT US LNG 

2015: DOUBLE LNG DEMAND

 

 

 

Tags: INDONESIA, OIL, GAS, WBG, WORLD, BANK

Chronicle:

WBG WANTS INDONESIA
2018, June, 22, 13:10:00

THE LARGEST VENEZUELA'S OIL

U.S. EIA - Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil. However, in the wake of political and economic instability in the country, crude oil production has dramatically decreased, reaching a multi-decades low in mid-2018.

WBG WANTS INDONESIA
2018, June, 22, 13:05:00

U.S. DEFICIT UP FROM $116.1 BLN TO $124.1 BLN

U.S. BEA - The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

WBG WANTS INDONESIA
2018, June, 22, 13:00:00

EUROPE'S NUCLEAR INVESTMENT : €50 BLN

WNN - There are 126 operational power reactors in 14 EU Member States, providing more than one-quarter of the bloc's total electricity production. In its Communication on the Nuclear Illustrative Program (PINC) published last year, the European Commission expects nuclear to maintain its significant role in Europe's energy mix up to 2050. This would require investment of some EUR40-50 billion (USD46-58 billion) in nuclear LTO by 2050.

WBG WANTS INDONESIA
2018, June, 20, 13:15:00

OIL PRICE: ABOVE $75

REUTERS - Benchmark Brent crude LCOc1 was up 50 cents at $75.58 a barrel by 0835 GMT. U.S. light crude CLc1 was 50 cents higher at $65.57.

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