RI suffers trade deficit<\/p>\n
JAKARTA (JP): Indonesia's trade in June ran a deficit for the
\nfirst time in several years due to increasing imports of
\nmachinery and auxiliary materials for industrial production,
\nMinister of Information Harmoko announced yesterday.<\/p>\n
\"Our exports reached US$3.76 billion in June, while imports
\nwere recorded at $3.97 billion, so we had a deficit of US$204.9
\nmillion that month,\" he told reporters after a monthly cabinet
\nmeeting at the Bina Graha presidential office.<\/p>\n
\"President Soeharto ordered all related parties to help boost
\nexports and reduce imports to get a surplus again and strengthen
\nour foreign exchange reserves,\" the minister said.<\/p>\n
Indonesia's foreign exchange reserves are currently estimated
\nat about $13 billion.<\/p>\n
Harmoko explained that Soeharto, who presided over yesterday's
\nmeeting, wanted all related parties to take part in expediting
\nexports.<\/p>\n
\"The President also wants all related institutions to
\nfacilitate imports of capital goods and auxiliary materials for
\nindustrial production,\" he said. \"However, we should not import
\nmaterials which have been produced domestically.\"<\/p>\n
Harmoko said that non-oil products contributed $2.91 billion
\nto June's export revenues, while oil and gas exports accounted
\nfor $858.3 million.<\/p>\n
He said the June exports brought Indonesia's total exports
\nduring the first six months of this year to $21.18 billion,
\nconsisting of $15.91 billion of non-oil exports and $5.26 billion
\nof oil and gas exports.<\/p>\n
\"The January to June exports indicated a 15.05 percent
\nincrease over the same period of last year,\" he said.<\/p>\n
Harmoko said the country's imports during the first six months
\nof this year rose 30.7 percent to $19.28 billion over the
\ncorresponding period last year. \"Indonesia, therefore, gained a
\ntrade surplus of $1.89 billion in the January to June period,\" he
\nexplained.<\/p>\n
According to the Central Bureau of Statistics, the trade
\nsurplus of $1.89 billion in the January to June period was far
\nlower than the trade surplus of $3.65 billion in the first half
\nof 1994 and $4.59 billion in the first half of 1993.<\/p>\n
Inflation<\/p>\n
Harmoko said the cabinet meeting, which was attended by Vice
\nPresident Try Sutrisno, also reported a 0.32 percent increase in
\nthe country's inflation rate in August.<\/p>\n
The increase in the August inflation rate was caused by a rise
\nin food prices by an average of 0.07 percent, housing costs by
\n0.17 percent, clothing prices by 0.18 percent and the price of
\nmiscellaneous goods and services by 0.8 percent<\/p>\n
Inflation in August brought the country's cumulative inflation
\nrate to 6.41 percent during the first eight months of this year.<\/p>\n
\"We hope we can maintain the slow growth of prices in the
\ncoming four months so we can keep the inflation rate below 10
\npercent this year,\" Harmoko said.<\/p>\n
He said the money supply reached Rp 47.7 trillion ($21.04
\nbillion) as of the end of July.<\/p>\n
The money supply was recorded at Rp 47.33 trillion as of the
\nend of June and Rp 45.22 trillion as of the end of May.<\/p>\n
The minister said the cabinet session also discussed extending
\ncollateral-free loans of up to Rp 50 million for small
\nbusinesses.<\/p>\n
\"The state-owned Bank Rakyat Indonesia and Bank Negara
\nIndonesia will start providing the collateral-free loans this
\nmonth,\" he said. \"Other banks will follow suit next month.\"<\/p>\n
He said about 19 million small businesses will be eligible for
\nthe loans.<\/p>\n
Borrowers are not required to have collateral but must prove
\nthat their business has good prospects, he said.<\/p>\n
Minister of Finance Mar'ie Muhammad said last month that to be
\neligible for the collateral-free loans small businesses must open
\nsavings accounts at the creditor banks.<\/p>\n
Harmoko said that the 4.6 percent increase in the number of
\ntourist arrivals in Indonesia was also discussed. Arrivals
\nreached 1.96 million during the first seven months of this year,
\nbringing in revenues of $2.34 billion. (riz)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-suffers-trade-deficit-1447893297",
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"sponsor_url": "https:\/\/okusiassociates.com"
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