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RABOBANK HOPES TO INCREASE CREDITS TO RP14 TRILLION

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PT Bank Rabobank International Indonesia.

Greatindonesia.co.id, Makassar – PT Bank Rabobank International Indonesia hopes to increase its outstanding credits to Rp14 trillion this year from Rp10 trillion last year.

The credit would be provided mainly for the expansion of cultivation of aquaculture and food crops, its chief executive Jos Luhukay said here on Tuesday (20/3/2018).

PT. Bank Rabobank offers corporate banking services. It focuses primarily on food and agribusiness, telecom, media, information technologies, pharmaceuticals, natural resources, and financial institutions.

The company, an Indonesian unit of the Dutch Rabobank Group, started operation in the country after the merger of Hagabank and Hagakita in 2000.

Jos Luhukay said strengthening food security is in line with the strategic policy of the government to reach food self sufficiency.

Therefore, the bank hopes to increase its credit disbursement by 40 percent this year especially for business in the food sector and fish cultivation.

He said until 2017, 66 percent of the bank’s credits have been for the food and agribusiness sectors.

This year the banks hopes to provide credits for the agricultural sector, fish cultivation and trade sector considering the country’s natural resources, he added.

The bank would use its partnership it has established with clients in eastern Indonesia , saving and lending cooperatives (KSP). (ant)

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FINANCE

REI READY TO BUILD NEW CAPITAL CITY : BAPPENAS

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Minister of National Development Planning (Bappenas), Bambang Brodjonegoro.

Greatindonesia.co.id, Jakarta – Property developers who are members of the Indonesian Real Estate (REI) are ready to participate in construction activities in the new capital of the country, Minister of National Development Planning (Bappenas), Bambang Brodjonegoro has stated. “We have communicated with the REI. The point is they are ready to be included in this plan,” he said during a meeting at the Bappenas Building, Jakarta, Wednesday (10/7/2019).

REI is ready to be involved in the development of a new capital city without any funding from the State Budget (APBN).

It only needs assurances regarding the land where the new capital city will come up, REI said.

“REI needs assurances if it does get concessions for land, that the construction process will not be disrupted,” he said.

Besides REI, there are many other companies that will be involved in the development of the new capital, not only from the private sector but also from among state-owned entities.

“The point is that many business people are interested in this planning and SOEs are allowed to participate,” he stated.

Previously, the Indonesian National Development Planning had estimated the cost of transferring the state capital, through the state budget to be IDR30.6 trillion over several years.

“Of the total cost of Rp466 trillion, the required state budget is only around Rp30.6 trillion,” Bambang had said in Jakarta, Thursday, June 15.

Based on the estimates compiled by Bappenas, the Rp30.6 trillion from the state budget will be used to build state palaces and military/police strategic buildings as the principal functions, green open spaces as helping functions, and for land acquisition.

Aside from the state budget, the Government and the Business Entity Cooperation scheme worth Rp340.6 trillion and private sector funds worth Rp95 trillion will complete the total amount of Rp466 trillion required for the transfer of the state capital.

Funds from the Government and Business Entity Cooperation will be utilised for the construction of government buildings (legislative, executive, judiciary), official housing (multistory and house-to-house for State Civil and Military / Police Apparatus), educational facilities (on the elementary, middle, and high school level), health facilities, correctional institution, infrastructure such as roads, electricity, telecommunications, water supply, drainage, waste treatment, and sports facilities.

Moreover, funds from the private sector will be used to build educational facilities (at the university level) and health facilities.

“So the majority of us are cooperating with the private sector and SOEs, the state budget is only a trigger. We will also use existing assets,” he said in conclusion. (azi)

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FINANCE

HOUSE APPROVES 2020 ECONOMIC GROWTH TARGET OF 5.5%

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Government representatives in a meeting with the House of Representative's Budget Agency in Jakarta on Monday (8/7/2019).

Greatindonesia.co.id, Jakarta – The Budget Academy of the Indonesian House of Representatives (DPR) approved an economic growth target of between 5.2 percent and 5.5 percent for 2020, based on the macro-economic predictions of the 2020 Draft State Budget.

The approval was made during a meeting between the DPR Budget Agency, the Ministry of Finance, the Bank of Indonesia and the Ministry of National Planning and Development, which was held in Jakarta Monday (8/7/2019).

“The outcomes of this meeting are subject to further discussion and include the basic pillars of the 2020 State Budget Bill, along with relevant financial data,” the meeting’s chairman, Kahar Muzakir said.

The meeting also discussed several key issues, such as national macro-economic predictions, related macro-fiscal frameworks, such as state revenues and expenditures, and national development targets for 2020.

The parliament approved the government’s proposed economic growth target, which is estimated to range from 5.2 percent to 5.5 percent, John Kenedy Azis (Member of the House Representative’s Budget Agency) explained, adding that the government also estimates annual inflation to be two percent to four percent while the exchange rate of the Rupiah (Rp) against the US dollar is expected to be between Rp14,000 and Rp14,500 per dollar.

Regarding national development targets for 2020, the unemployment rate is estimated to be between 4.8 percent to 5.1 percent, and poverty rate from 8.5 percent to 9.5 percent, and Gini ratio from 0.375 to 0.380, and human development index at 72.51 percent.

During the meeting, Sri Mulyani Indrawati (Minister of Finance) expressed his appreciation for the key role of the DPR Budget Agency in developing the initial plan of the Draft State Budget, before it is finalized as the 2020 State Budget.

“We would like to thank all the working committees. We will take all inputs into account. If there are any changes, we will certainly declare them,” Indrawati said. (hep)

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FINANCE

FINANCE MINISTRY PROPOSES STAMP DUTY TARIFF CHANGE

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Finance Minister, Sri Mulyani Indrawati.

Greatindonesia.co.id, Jakarta – The Ministry of Finance has proposed a change in stamp duty tariffs to maintain the continuity of adequate revenue from stamp duty. “The law on stamp duty of 1985 regulated the increase in stamp duty rates to a maximum of only six times the original tariff,” Finance Minister Sri Mulyani said at a working meeting with the House of Representatives’ Commission XI here Wednesday (3/7/2019).

The increase was based on the possibility of increasing stamp duty tariffs to a maximum of six times the initial tariff in 1985 of Rp1,000 and Rp500, Minister Sri Mulyani said.

In addition, the change was also proposed considering the fact that per capita gross domestic product (GDP) in Indonesia had increased by eight times while revenue from stamp duty from 2001 to 2017 had only increased 3.6 times.

Furthermore, based on data from the Directorate General of Tax in 2001, revenue from stamp duty was recorded at Rp1.4 trillion and in 2017 it amounted to Rp5.08 trillion, the minister pointed out.

Therefore, there needed to be a correlation between an increase in revenue and per capita income so that they could be in sync, she said.

On the basis of this growth and to further simplify the designation of stamp duty tariffs, the Ministry of Finance proposed simplifying duties at a fixed tariff of Rp10,000.

The minister hoped that the proposed change could be carried out without burdening the public as there is still a potential to increase revenue from stamp duty. (kat)

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