External trade recovers after deficit<\/p>\n
JAKARTA (JP): Indonesia's external trade, which plunged to a
\ndeficit of US$204.9 million in June, rebounded the following
\nmonth with a surplus of $362.5 million, Minister of Information
\nHarmoko announced yesterday.<\/p>\n
He told reporters after a limited cabinet meeting on the
\neconomy at the Bina Graha presidential office that the country's
\nexports reached $3.77 billion in July, comprised of $2.95 billion
\nin exports of non-oil products and $824.7 million in exports of
\noil and gas. Imports were recorded at $3.41 billion.<\/p>\n
July's exports were slightly higher than the $3.75 billion
\nrecorded in June and up from the July 1994 level of $3.5 billion.<\/p>\n
Harmoko said that cumulatively, Indonesia's exports in the
\nJanuary-July period reached $25.02 billion, with $18.92 billion
\ngained from exports of non-oil products and $6.09 billion of oil
\nand gas.<\/p>\n
Because imports only reached $22.68 billion, the country
\nenjoyed a trade surplus of $2.33 billion in the January-July
\nperiod, he said.<\/p>\n
He said the meeting, which was presided over by President
\nSoeharto and attended by Vice President Try Sutrisno and most of
\nthe cabinet members, also reported that the country's inflation
\nrate in September was recorded at 0.38 percent, slightly higher
\nthan 0.32 percent in the previous month but lower than 0.53
\npercent in September 1994.<\/p>\n
Last month's inflation rate was caused by the 0.46 percent
\naverage increase in food prices, 0.46 percent rise in housing
\ncosts, 0.56 percent hike in clothing prices and 0.26 percent rise
\nin the prices of other goods and services.<\/p>\n
Harmoko said that last month's inflation rate brought the
\ncumulative inflation rate to 6.79 percent during the first nine
\nmonths of this year, far lower than the 7.38 percent recorded in
\nthe same period of last year.<\/p>\n
\"Even though last month's inflation rate was relatively low,
\nPresident Soeharto instructed the National Logistics Agency
\n(Bulog) to improve its rice market operations to control the
\nprice developments of the staple at market places,\" he said.<\/p>\n
The minister acknowledged that the prices of grains increased
\nby 8.19 percent in Mataram (West Nusa Tenggara) last month, 8.11
\npercent in Yogyakarta, 7.88 percent in Surabaya (East Java) and
\n4.71 percent in Jakarta.<\/p>\n
Harmoko said that the money supply was recorded at Rp 48.38
\ntrillion (US$21.26 billion) as of the end of August, compared to
\nRp 47.7 trillion as of the end of July, Rp 47.33 trillion as of
\nthe end of June and Rp 45.22 trillion as of the end of May.<\/p>\n
He said the President also instructed Minister of Finance
\nMar'ie Muhammad and Bank Indonesia Governor J. Soedradjad
\nDjiwandono, who will soon attend an annual meeting of the World
\nBank and the International Monetary Fund, to continue urging the
\ntwo multinational financial institutions to help reduce the debt
\nburdens of least developed countries.<\/p>\n
Indonesia itself will be ready to continue its technical
\nassistance to the 18 most debt-ridden developing nations in
\nmanaging their debts, Harmoko said. (rid)<\/p>",
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"sponsor": "Okusi Associates",
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