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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, September, 24, 15:05:00

SAUDI ARAMCO WANTS +50%

ARAB NEWS - Saudi's Aramco Trading Company (ATC) expects to increase its oil trading volume to 6 million barrels per day (bpd) in 2020, 50 percent higher than current levels, the company's top official said on Monday.

WBG WANTS INDONESIA
2018, September, 24, 15:00:00

U.S. RIGS DOWN 2 TO 1,053

BAKER HUGHES A GE - U.S. Rig Count is down 2 rigs from last week to 1,053, with oil rigs down 1 to 866, gas rigs unchanged at 186, and miscellaneous rigs down 1 to 1. Canada Rig Count is down 29 rigs from last week to 197, with oil rigs down 13 to 135 and gas rigs down 16 to 62.

WBG WANTS INDONESIA
2018, September, 21, 11:00:00

OIL PRICE: NEAR $79 STILL

REUTERS - International benchmark Brent crude for November delivery LCOc1 was up 26 cents, or 0.33 percent, at $78.96 a barrel by 0647 GMT. U.S. West Texas Intermediate crude for October delivery CLc1 was up 7 cents, or 0.10 percent, at $70.39 a barrel.

WBG WANTS INDONESIA
2018, September, 21, 10:55:00

RUSSIA'S OIL PRODUCTION: 11.3 MBD

BLOOMBERG - Russia's oil output is currently fluctuating between 1.54 million and 1.55 million tons a day -- driven mainly by state-run giant Rosneft PJSC -- the official said, asking not to be named as the information isn’t public yet. That equates to 11.29 million to 11.36 million barrels a day, beating the previous record of 11.25 million barrels a day set in October 2016 before Russia agreed with the Organization of Petroleum Exporting Countries to cut production.

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