Mandatory B20 Impact to be Seen on Trade Balance for September

COORDINATING Minister of Economic Affairs Darmin Nasution reiterated his view that impact of mandatory B20 policy can be seen on trade balance for September 2018. Trade balance data for August 2018 currently published by Statistics Indonesia (BPS) hasn’t shown impact of B20 policy yet. Darmin`s statement came after a meeting with President Joko Widodo at the Presidential Palace, Jakarta, Monday (17/9/2018). Government’s policy on extended B20 mandatory was launched on 1 September 2018 so that the effect of the policy will show on trade balance for September 2018. “It means we will see the impact of all policies we’ve taken on September and it will be published by mid-October,” Darmin said as quoted by Bisnis.com. Currently, BPS released balance of trade data for August 2018 that shows deficit US$1,02 billion, lower than July 2018 at US$2,03 billion. According to Darmin, the trade deficit decreased by only US$1 billion on August 2018 because the deficit from oil and gas was still high. “As a matter of fact, the deficit of non-oil and gas export is quite good since there’s a surplus. However, the deficit of oil and gas was still high. That’s why there’s still deficit by US$1,02 billion which is better than July 2018. ***