stocks
Indonesia Maintains 2.53% Budget Deficit Target Despite Revenue Drop
Company
NILAI TUKAR RUPIAH MELEMAH TERHADAP DOLAR AS
Published On
14 March 2025 - 10.11am
Latest update: 19-08-2025, 02:12
Indonesia Maintains 2.53% Budget Deficit Target Despite Revenue Drop
Indonesia maintains its 2.53% GDP deficit target despite a 30% tax revenue decline. Indonesia recorded a deficit of IDR 31.2 tn in 2M25 (vs IDR 26 tn surplus in 2024). This decline was attributed to lower commodity prices and tax collection changes. Total revenue reached IDR 348.1 tn in 2M25 (-20.8% YoY), spending dropped 348.1 tn rupiah (- 7% YoY). The government plans to prioritize school meals, education, energy projects, and fund state-owned enterprises, including sovereign wealth fund Danantara Indonesia. (Reuters)
INDUSTRY
Trump Threatened 200% Tariffs on EU Wine & Alcohol
US President, Donald Trump threatened a 200% tariff on wine, champagne, and alcoholic beverages from France and the EU if the bloc proceeds with a tax on American whiskey. The move follows new US tariffs on steel and aluminum. Trump reaffirmed that he would not withdraw these tariffs, escalating trade tensions. The threat rattled markets, with S&P 500 nearing a 10% correction. France condemned the move, while the EU prepared retaliatory tariffs of up to €26 bn on US goods. (Bloomberg)
COMPANY
BCAS: INTP Performance in Feb-25 & Cement Outlook

INTP sales volume 1.3m tones (-11.5% MoM, +0.5% YoY), taking the cumulative 2M25 volume to 2.8m tons (-0.1% YoY) – indicates a loss of market share to 28.6% (Jan-25: 31%). This year, we might see an improvement in ASP from bag recovery and bulk contraction, however the demand to remain weak. February domestic cement sales volume continued to fall to 4.6m tons (-4.1% MoM, +5% YoY), and 2M25 sales volume contracted 0.4% to 9.4m tons. Bulk volume was down 10.4% mainly from Kalimantan area due to lower IKN budget, meanwhile bag sales slightly improved +4% after recorded negative growth for 3 years.