Inflation rate in May falls to 0.06 percent<\/p>\n
JAKARTA (JP): The country's inflation rate fell to 0.06
\npercent in May from 0.78 percent the previous month, Information
\nMinister Harmoko announced yesterday.<\/p>\n
He told reporters after a limited cabinet meeting on economy
\nat Bina Graha presidential office that the May inflation rate was
\nalso lower than the 0.49 percent recoded in the same month of
\n1995.<\/p>\n
The May inflation rate brought the cumulative consumer price
\nindex during the first five months of this year to 4.1 percent,
\nlower than the 5.22 percent of the same period last year.<\/p>\n
\"President Soeharto ordered related ministers and other
\ngovernment officials to continue curbing the inflation by
\nimproving coordination in the production and distribution of
\ngoods,\" Harmoko said.<\/p>\n
The minister said the low inflation rate in May was
\ncontributed to by a 0.56 percent decline in the prices of food,
\nwhile the cost of housing rose 0.38 percent, clothing by 0.57
\npercent and other goods and services rose by 0.48 percent.<\/p>\n
Meanwhile, money supplies were recorded at Rp 53.16 trillion
\n(US$22.6 billion) as of April 1996, the minister said.<\/p>\n
He noted that the supplies of strategic goods such as cement
\nand fertilizers adequately met demand. Cement is usually sold out
\nduring the dry season, beginning in May, when construction
\nactivities increase, while fertilizers have just experienced
\nsupply crises in a number of areas.<\/p>\n
To meet the increasing demand for cement, the government has
\nencouraged the private sector to invest in the cement industry
\nand the existing firms to expand their capacity.<\/p>\n
Harmoko said currently there are 32 cement expansion as well
\nas new projects, 15 of which are under construction with a
\ncombined capacity of 28.2 million tons of cement per annum and
\ncombined investment of Rp 6.8 trillion.<\/p>\n
Speaking on international trade, the minister reported that
\nIndonesia enjoyed a surplus of US$477.5 million for March, with
\nexports of $3.95 billion -- including $986 million from the oil
\nand gas sector -- and imports of $3.47 billion -- including
\n$307.8 million from oil and gas.<\/p>\n
As for the period of April 1995 to March 1996, Indonesia's
\ntrade surplus stood at $5.27 billion, with exports of $46.48
\nbillion and imports of $41.21 billion.<\/p>\n
Meanwhile, Indonesia's foreign exchange revenues from the
\ntourism sector between January and April this year totaled $1.6
\nbillion, up by 19.5 percent over the same period of last year.<\/p>\n
Of the total tourism earnings, 64.4 percent came from foreign
\ntourists coming here for holidays, 23.43 percent from business
\nvisits and the other 12.13 percent from other-purpose visits.<\/p>\n
To woo more foreign tourists here, the minister said,
\nPresident Soeharto will inaugurate a tourism estate in Bintan
\nisland, Riau, on June 18. (rid)<\/p>",
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