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International 2014: Q1
In January 2014, the trade account fell back into deficit after three consecutive months of surplus (October – December 2013). During 2013, Indonesia balance of trade showed a deficit of USD 4.06 Billion, which constituted a deterioration from a trade deficit of USD 1.66 Billion in 2012. Rising trade deficit in Indonesia in 2013, is largely attributable to the fact that the surplus on trade balance of non oil and gas was smaller than the deficit on trade balance of non oil and gas. On a month-to-month basis, balance of trade registered a decline of 128% from a surplus of USD 1.53 Billion in December 2013 to a deficit of USD 0.43 Billion in January 2014. The condition was by and large caused by a decline in Indonesian exports that was larger than a decline of imports, 14%, and 3%, respectively.
Latest Economic Developments 2014:Q1
The economy registered improvement largely due to growth in the services and net exports
Indonesian economy shows some slight improvements in quarter IV-2013, registering 5.72% growth year-on-year, which was lower than 6.18% in the same period last year. This was largely attributable to the incessant pressure on the current account and depreciation of Rupiah, coupled with rising inflation. The deficit on the current account over the last three quarters stoked inflation, which in turn induced an upward revision of reference interest rate, followed by depressed investment. Thus, despite the fact that the level of current account deficit showed a significant decline from USD 8.5 Billion in the previous quarter to USD 4 Billion in quarter IV-2013, the economic growth of 5.78% registered in 2013 was lower than 6.23 % recorded for 2012.
Legislative Elections and Hope For Change
Legislative Elections and Hope For Change
Akhmad Akbar Susamto1
The general legislative elections (Pileg) 2014 is imminent. Based on phases of the conduct of the election, which the national elections commission has released, elections for electing members of regional representatives assembly, national legislative assembly, and regional legislative assembly are slated for 9 April 2014. The elections will feature individual candidates vying for regional legislative assembly seats, 12 political parties that will contest for seats in the national assembly and regional legislative assemblies, of which 11 are ‘old’ political parties while one is a new political party.