INDONESIA ECONOMIC WEEK IN REVIEW1 26 – 30 August 2019 WEEKLY ECONOMIC HIGHLIGHTS  The Jakarta Composite Index rose 1.2 percent last week, in contrast to most other markets in the region.  The Rupiah depreciated against the U.S. Dollar, Euro and Japanese Yen by 0.1 percent, 0.3 percent and 0.1 percent, respectively, over the week.  The Government raised IDR 17.3 trillion from the issuance of Rupiah-denominated bonds on August 27.  The Government will allocate a total of IDR 88 trillion to fund an IDR 466 trillion plan to relocate the capital city to Kalimantan.  Total government debt increased to IDR 4,604 trillion in July from IDR 4,570 trillion in June.  The Ministry of Finance announced a new tax refund policy for tourists spending over IDR 5 million. IDX composite index IDR/USD exchange rate Level (index) and weekly change (percent) Level (IDR/USD) and weekly change (percent) IDR 5-year government bond yield Indonesia USD EMBI Spread Level (percent) and weekly change (bps) Level (percent) and weekly change (bps) FINANCIAL MARKET INDICATORS Change or total: Date of Latest latest Year to Indicator value value Unit 7 days* 30 days* 90 days date Stock market Jakarta Composite Index 6,328 30 Aug 1.2% -0.8% 1.9% 2.2% Net purchases by foreign investors 0.07 30 Aug IDR, tn -1.9 -9.5 2.7 58.4 Exchange rate: USD/IDR 14,237 30 Aug -0.1% 1.4% -1.0% -2.1% Government bonds Yield: 1 year IDR bond 6.2% 30 Aug bps 0.4 3 -32 -60 Yield: 5-year IDR bond 6.9% 30 Aug bps 10 15 -70 -107 Yield: 10-year IDR bond 7.5% 30 Aug bps 10 17 -64 -60 Foreign investor holdings of IDR 1012 30 Aug IDR, tn 4.1 -2.5 62.6 118.8 government bonds Indonesia USD bonds stripped spread 185 30 Aug bps -9 18 -28 -45 Asia USD bonds stripped spread 188 30 Aug bps -5 22 -11 -26 Interest rates IndONIA 5.3% 30 Aug bps -59 32 -59 -59 Spread relative to policy rate -18 30 Aug bps -9 7 -9 -9 International reserves 125.9 31 Jul USD, bn -- 2.1 1.6 5.2 * One week and month prior to the latest observation 1DISCLAIMER This is an internal document and is not for wider circulation. All data and information are from third party sources unless otherwise noted (full list of sources provided at the end of the document). The accuracy of data, statistics or events presented in this document are not independently verified and the document reflects staff interpretation of recent economic developments. INTERNATIONAL FINANCIAL MARKET INDICATORS Value on Change since Change over earlier period 8-Nov-16 Year on Year to 30-Aug-19 US 7 days 30 days 90 days year date Election STOCK MARKET Indonesia Composite Index 6,328 15.7% 5.1% 1.2% -0.8% 1.9% 2.2% Agriculture 1,361 -23.1% -17.3% -0.6% 0.7% -2.7% -13.0% Mining 1,612 15.9% -19.6% 1.4% -1.9% -2.3% -9.3% Finance 1,264 53.9% 15.7% 0.9% -4.5% 0.9% 7.5% Basic industry 884 62.5% 7.5% 5.1% 7.3% 16.1% 3.4% Consumer 2,399 -4.2% -0.9% -0.2% 3.3% -1.9% -6.6% Manufacturing 1,532 6.4% 0.4% 1.5% 2.7% 1.6% -5.3% Infras., utilities & trans 1,231 11.1% 19.0% 1.2% 2.0% 6.6% 15.6% Australia 6,698 25.4% 3.7% 1.3% -3.3% 3.2% 17.2% H.K. 25,725 12.3% -8.7% -1.7% -8.6% -4.4% 0.9% Japan 20,704 20.6% -9.5% 0.0% -4.6% 0.5% 3.4% Malaysia 11,191 -1.9% -10.7% -0.3% -2.5% -2.3% -2.3% Philippines 7,980 9.2% 1.6% 1.1% -2.1% 0.1% 6.9% Singapore 3,082 9.3% -4.5% -1.5% -8.0% -1.2% 0.9% Thailand 1,655 9.6% -3.8% 0.5% -3.0% 2.1% 5.8% U.S. S&P 500 2,926 35.3% 0.9% 2.8% -1.8% 6.3% 17.7% FOREIGN EXCHANGE RATES USD exchange rates: IDR 14,237 8.8% -2.9% -0.1% 1.4% -1.0% -2.1% Euro 0.91 0.0% 5.9% 0.3% 1.1% 1.0% 3.8% Singapore Dollar 1.39 -0.1% 1.7% 0.1% 1.4% 0.7% 1.5% Thai Baht 30.64 -12.4% -6.3% -0.4% -0.6% -3.5% -5.6% Korean Won 1,211 6.7% 9.3% 0.0% 2.5% 1.7% 8.6% Japanese Yen 106.51 2.0% -4.6% -0.1% -1.9% -2.1% -3.5% IDR cross rates: Euro 15,731 8.9% -8.3% -0.3% 0.6% -1.8% -5.5% 100 Yen 13,365 6.6% 1.8% -0.1% 3.6% 1.5% 1.7% UPCOMING EVENTS AND DATA RELEASES  International Reserves Data Release, August Data (September 9, 2019)  Bank Indonesia’s Consumer Confidence Index (September 10, 2019) DATA SOURCES Data are taken from CEIC, with the following exceptions: the latest Jakarta Stock Exchange and Indonesian government IDR bond yield data are taken from the Indonesian Stock Exchange (www.idx.co.id), and IDR mid exchange rates from Bank Indonesia (www.bi.go.id), after 5 pm each day. BI reports international reserves data directly, with a lag of approximately two weeks. CEIC provides the latest BI JIBOR rates via a special direct data service. The Directorate General of Debt Management at the Indonesian Ministry of Finance provides data on the foreign holdings of IDR government bonds (www.djppr.kemenkeu.go.id) contains the most recent observation). Indonesian government USD bond spreads are sourced from DEC’s GEM dataset.