Indonesian Pres. Widodo: Economy's capacity to manage global economic risks, disaster must be expanded
|In a state of the union address to parliament on Friday, Indonesian President Joko Widodo spoke about the economic situation and its capability to fend off the mounting global risks.
Key Quotes:
Economy's capacity to manage global economic risks, disaster must be expanded.
Country should push further for downstream industry in resources, including nickel, coal and bauxite.
Wants to develop 100% palm-based biodiesel.
Deregulation, consistency needed to support economic strategy.
Country needs new rules to protect from cybercrime.
Amid comments from President Widodo, the Indonesian Rupiah is seen strengthening, with USD/IDR now extending the fall towards 14,200 levels. The spot is seen reversing more than half of Thursday’s rally to 14,310 levels.
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