President Jokowi Orders Cabinet to Examine Causes of Budget Deficit
President Joko Jokowi Widodo has reminded his Cabinet to take great cautions in making decisions, particularly on import and export
Data from the Central Statistics Agency (BPS) shows that Indonesias export from January to May 2019 dropped by 8.6%, while import has also dropped 9.2%.
It means our trade balance from January to May has a deficit of USD2.14 billion, President Jokowi said in his remarks during a Plenary Cabinet Meeting held at the Bogor Presidential Palace, West Java, Monday (8/7).
The President also ordered related ministers to examine causes of budget deficit. Particularly in oil and gas sector, I specifically order Minister of Energy and Mineral Resources and Minister of State-Owned Enterprises that are related with this issue, said the President.
Regarding export, President Jokowi said that Indonesia still has big opportunities, especially amidst the US-China trade war, which, he said, can serve as an opportunity for Indonesia to export commodities to the US market, replacing the Chinese products.
This is our chance to increase capacity of our factories and industries, the President said, adding that the Government should also provide incentives for exporters to facilitate them to enter a new market.
I think there are a lot of business opportunities such as in textile, footwear, and furniture sectors. Unfortunately, we always lose the chances because the Government does not provide those incentives, said the President. (GUN/SM/AGG/ES)
Translated by: Estu Widyamurti
Edited by: Mia Medyana