European expansion demands a Coull head

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Indonesia’s debt to swell further in 2021 to finance economic recovery

first_imgThe government has relaxed the state budget deficit ceiling of 3 percent of GDP, a cap introduced after the 1998 Asian financial crisis, which has never before been exceeded. The government has chosen to exceed the limit to fight the health, social and economic impacts of the pandemic.However, the law that has allowed the government to circumvent the ceiling stipulates that the government must reinstate the 3 percent cap by 2023.“Our fiscal policy for next year is speeding up economic recovery and strengthening sectoral reforms to prevent us from falling into the middle-income trap,” Febrio said.The government expects the economy to grow between 4.5 percent and 5.5 percent in 2021 and projects this year’s growth will hover between 2.3 percent and negative 0.4 percent. Finance Minister Sri Mulyani Indrawati, however, said this year’s growth looked more likely to be within the range of zero to 1 percent as the second-quarter economy was projected to shrink by 3.1 percent.Read also: U-shape economic recovery to take place until Q1 of 2021: BataviaIndonesia booked its lowest GDP growth in 19 years in the first quarter: 2.97 percent. The coronavirus outbreak forced people to stay at home, disrupting business and economic activity.Fitch Ratings director for sovereigns and supranationals Thomas Rookmaker expected Indonesia’s government debt ratio to swell to 38 percent by the end of the year, adding that it would still be below the BBB rating peer median of 53 percent of GDP.”A rapid increase in public debt resulting from rising budget deficits is a negative rating sensibility from our last review when we affirmed Indonesia’s rating at BBB with a stable outlook, but that was before the coronavirus pandemic,” Rookmaker told The Jakarta Post on Wednesday. The key question from a ratings perspective is how the government will use the fiscal space and what impact it will have on Indonesia’s medium-term public finances, he said.”Indonesia has a policy record of fiscal prudence supported by the political spectrum. This gives credibility to the authorities to return public finance back to their pre-crisis track and could be supportive of the rating,” Rookmaker stated.Read also: GDP to contract by 3.1% in Q2 on COVID-19 headwindsWorld Bank senior economist for Indonesia Ralph van Doorn said last month that the country’s debt would rise to 37 percent of GDP this year, driven by an increase in borrowing to cover for the widening budget deficit and to cope with the economic slowdown and rupiah exchange rate depreciation.“Indonesia must maintain its hard-earned market confidence, which can be lost very easily, as credit rating agencies have signaled concerns [about debts] in the medium term,” Van Doorn said.“It must reinstate the deficit ceiling and end Bank Indonesia’s partial financing of the deficit” after the virus threat subsides, he added.Topics : The government expects the budget deficit to reach 6.34 percent of GDP this year to cover a Rp 695.2 trillion (US$49.23 billion) stimulus package. In 2021, the government expects the budget deficit to hover between 3.05 percent and 4.01 percent.Read also: Indonesia’s foreign debt rises in April as govt issues global bonds, debt papersThe government is planning to issue another Rp 990 trillion worth of government bonds from June to December this year to finance the widening deficit. It had sold Rp 369 trillion worth of government bonds as of May, an increase of 98.3 percent from the same period last year. Next year’s state budget figures are still under discussion.“The government realizes that fiscal discipline is crucial to speed up economic recovery,” Febrio added. “We expect the budget deficit will be able to return below 3 percent in 2022.” Indonesia’s debt will swell significantly next year as the government increases spending to help the country recover from the COVID-19 pandemic, an official has said.The Finance Ministry’s Fiscal Policy Agency head Febrio Nathan Kacaribu said that Indonesia’s debt-to-gross domestic product (GDP) ratio would swell to between 33.8 percent and 35.8 percent next year, up from 29.8 percent at the end of last year, to cover a widening budget deficit during the pandemic.“This is a direct consequence of a countercyclical policy to support economic recovery and strengthen economic fundamentals in 2020 and 2021,” Febrio said at a discussion on Wednesday. “We will continue to look at various financing sources to maintain the health of the debt ratio.”last_img read more

Jakarta records 404 new COVID-19 cases, setting third new record in less than a week

first_imgHe added that around 66 percent of new cases detected since June were people who were asymptomatic.“So we have to be extra careful […] because if this continues, we may have to return to [social restrictions],” he said.Read also: ‘Don’t be satisfied with numbers’: Doubts remain as Jakarta officials claim epidemic under controlAnies urged residents to wear face masks at all times, maintain a distance of at least 1 meter from each other, wash their hands regularly and ensure rooms were filled to only 50 percent of capacity.“Do not let this situation reach the point where we have to pull the emergency brake,” he said. “If that happens, we all have to go back home and economic, religious and social activities will be halted.” Earlier this month, the administration extended the city’s large-scale social restrictions (PSBB) to July 15 but the restrictions have been relaxed since June 4, with businesses and offices reopening under new health protocols.Topics : “This spike is a warning to us all,” Anies said in a video statement posted to the administration’s official YouTube channel on Sunday afternoon.The former education minister said that while most of the new cases were the result the administration’s massive “active case finding” efforts, the city’s increasing positivity rate — the number of people who test positive divided by the total number tested — was cause for concern.Anies said that since the beginning of June, Jakarta’s weekly positivity rate had consistently been below 5 percent, which is one of the World Health Organization’s requirements for region’s seeking to enter the new normal.“But today, the positivity rate has risen to 10.5 percent, a two-fold spike,” he said. “That is why I want to tell all Jakartans: do not take this lightly. Do not feel like we are free of the COVID-19 outbreak.” Jakarta Governor Anies Baswedan has announced that the capital had recorded 404 new confirmed COVID-19 cases as of Sunday morning, the highest one-day spike since the outbreak began in the city.The spike comes not long after Jakarta registered its previous record highs of 359 cases on Saturday and 308 cases on Wednesday.last_img read more

Why Anthony Martial misses Manchester United’s match against Burnley

first_imgThe Frenchman was on the score sheet on Friday night against Arsenal (Picture: Getty)Ole Gunnar Solskjaer has confirmed that Anthony Martial has picked up an injury that rules him out of Manchester United’s clash against Burnley on Tuesday night.The Frenchman played a key role in Friday’s FA Cup fourth-round victory over Arsenal, coming off the bench to score his side’s third goal at the Emirates in a 3-1 victory.He had been expected to return to the team for tonight’s Premier League encounter but has picked up a knock, with Solskjaer making four changes to the team that beat Arsenal. Metro Sport ReporterTuesday 29 Jan 2019 7:35 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link974Shares Comment Why Anthony Martial misses Manchester United’s match against Burnley Advertisementcenter_img Lukaku continues in attack after an impressive display against Arsenal (Picture: Getty)On how Lukaku and Rashford will play together, Solskjaer continued: ‘Let’s hope they hit it off because they’re two different types of players, I think they can play off each other.‘Obviously Marcus is in a great vein of form, then again Romelu did really well last game. We thought their physical presence would be needed today.’More: Manchester United FCRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseEx-Man Utd coach blasts Ed Woodward for two key transfer errors Martial had been on the bench against Arsenal and was expected to start against Burnley (Getty)‘There’s a couple of small little niggles that we need to protect and little bit of rotation,’ Solskjaer told Sky Sports.AdvertisementAdvertisementADVERTISEMENT‘Of course we’ve got loads of games coming up, we’ve played quite a few games.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘The decision to recall [Phil] Jones at the back then Romelu [Lukaku] did well last game and Anthony is injured so we can’t play him.’He added to MUTV: ‘Anthony got a slight injury in training, hopefully he’ll be back for next weekend but no chance he’d be able to play tonight.’Jones replaces Eric Bailly in the side, while Andreas Pereira comes in for Ander Herrera; in attack, Alexis Sanchez and Jesse Lingard are benched while Juan Mata and Marcus Rashford start. Advertisementlast_img read more

Nicolas Pepe’s surprise answer when asked to name toughest defender he’s faced

first_img Read More Comment by Metro Read More Guendouzi is confident he’s improving with every game at Arsenal (Picture: Getty)Guendouzi is confident he’s coping well with the higher expectations placed on him this season after his meteoric rise at Arsenal last term.‘The fans definitely expect different things from me now,’ the young midfielder told Arsenal’s official website earlier this week.‘Right at the beginning, last year, I arrived as a new player, a young player who had just arrived and who was unknown.‘Then, inevitably, my playing well from the beginning last year was something new but I was still seen as a young player and new player that they did not know. Now, I have shown them what I am capable of.‘I have shown them that I can help the team a lot. So it is normal that they now expect a lot more from me, especially as I have played a lot of games last season.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘Then, since the beginning of the season, I have started in numerous games so it is normal that they expect a lot from me. In any case, I will always try to meet [those expectations] on the pitch.‘I think that I have a certain status in the team now. I have been able to show that I can perform well so I now need to be consistent, always help the team, always give it my best and always play well on the pitch.‘I think I improved and that my level increased a lot this year. I really think that I have hit many milestones and moved up a good few notches.‘I am even better than last season. My objective is to always keep making progress and that is what I will do in the years to come, keep on improving so I can be the best.’MORE: Arsenal legend Nigel Winterburn sends warning to Mikel Arteta over Adam Lallana transfer Nicolas Pepe has had an underwhelming debut season at Arsenal (Picture: Getty)Nicolas Pepe somehow failed to name a single defender he’s struggled against during a Q&A session with Arsenal team-mate Matteo Guendouzi.The 24-year-old attacker arrived in north London to great fanfare last summer after the Gunners wrapped up a £72million agreement with Lille following weeks of intense speculation.Though Pepe has shown glimpses of the quality he possesses in his opening six months at the club, Arsenal fans would undoubtedly have expected their record signing to have made more of an immediate impact.The Ivorian has managed just three goals and three assists in the Premier League this term and new head coach Mikel Arteta has made it clear he wants to see improvements in an attacking sense.ADVERTISEMENT 1 min. story About Connatix V67539 struggling Manchester United captain Harry… Visit Advertiser website GO TO PAGE Skip Coming Next SPONSORED Metro Sport ReporterFriday 7 Feb 2020 5:45 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link654Shares Rio Ferdinand tells Ole Gunnar Solskjaer to drop Read More Nicolas Pepe’s surprise answer when asked to name toughest defender he’s faced Skip Ad Read More 1/1 / Top articles Advertisement Pepe couldn’t name one tough defender he’s faced (Picture: Arsenal FC)Pepe was widely criticised following Arsenal’s 2-2 draw with Chelsea last month, with Martin Keown and Rio Ferdinand both slamming the forward’s work-rate at Stamford Bridge, but the player himself appears content with how he’s fared so far in England.AdvertisementAdvertisementDuring a rapid fire Q&A session for Arsenal’s official YouTube channel, Guendouzi asked: ‘Who’s the toughest defender you’ve played against?’‘Honestly… nobody,’ Pepe replied.Guendouzi, clearly surprised at the answer, responded, ‘Honestly’ to which Pepe replied: ‘Honestly.’A damning indictment of the standard of Premier League defenders or a simply a sign the sheer confidence Pepe has in his ability? Perhaps a bit of both…Elsewhere in the video, Pepe admitted he’s not the biggest fan of English cuisine and revealed that he’s often mistaken for Manchester United defender and Ivory Coast team-mate Eric Bailly. Full Screen Video Settings Advertisement Read More PLAY last_img read more

Spotted: Maersk Embraces Its New Stingray

first_imgWorld Maritime News Staff; Image Courtesy: Maersk Supply Service Maersk Supply Service has taken delivery of Maersk Installer, an 8,300 dwt subsea support vessel (SSV), from COSCO (Dalian) Shipyard. As informed, the delivery documents were signed between the two parties on October 16, 2017.Maersk Installer is the first of four Stingray class SSVs scheduled for delivery in 2017 and 2018.Flying the flag of Danish International Register, the 14,100 gross-ton ship features a length of 137 meters and a width of 27 meters. The newbuilding currently has a market value of USD 92.64 million, according to data provided by VesselsValue.“Maersk Supply Service’s new Stingray subsea support vessels are built to carry out a wide range of deep and shallow water operations in challenging offshore environments. The vessels have flexible features with a large free deck, a 400t crane and 120 … single-cabins,” Carsten Gran Haagensen, Chief Commercial Officer at Maersk Supply Service, explained.“The vessels have been designed with energy efficiency as a key design parameter, keeping the fuel consumption at a very low level. The four Stingray new-buildings will be a crucial part of Maersk Supply Service’s future fleet allowing us to offer a broader scope of services,” Haagensen added.last_img read more

P40-K ‘shabu’ seized

first_imgThe suspect was detained in the custodial facility of the Talisay City police station. Obinque was nabbed after he sold a sachet of suspected shabu to an undercover cop for P500 around 9 p.m. on May 21, it added. BACOLOD City – Twenty sachets of suspected shabu valued at around P40,000 were seized in a buy-bust operation in Barangay Zone 4-A, Talisay City, Negros Occidental. Charges for violation of Republic Act 9165, or the Comprehensive Dangerous Drugs Act of 2002 will be filed against Obinque./PN Resident Rodel Obinque, 43, yielded the suspected illegal drugs, a police report showed.last_img

EPL: Wolves sink Aston Villa

first_imgLeander Dendoncker maintained Wolves’ Champions League charge and plunged Aston Villa deeper into relegation trouble.The Belgium international struck midway through the second half to earn the visitors a 1-0 win at Villa Park and close the gap on the top four. Nuno Espirito Santo’s side moved up to fifth in the Premier League – above Manchester United – and are just two points behind Chelsea after a third straight win.They maintained their 100 per cent record following the league’s resumption, keeping their seventh clean sheet in eight top-flight games.In contrast, Villa – winless since January – remain in the drop zone on goal difference having played a game more than rivals Bournemouth, West Ham and Watford.They managed just one shot on target and it could have been worse but Diogo Jota missed a glorious first-half chance following Orjan Nyland’s error.Villa lost Matt Targett to injury after just 10 minutes, replacing him with Neil Taylor, but made a solid start against a Wolves side not used to scoring early. The high-flyers have netted just four times in the opening 20 minutes in their 32 top-flight games this term.That trend continued at Villa Park, although Raul Jimenez glanced a header from Joao Moutinho’s free-kick at Nyland after 18 minutes.Matt Doherty hit the side-netting as Wolves tried to find their stride but, while Jimenez and Jota probed, there was little lasting threat.Robust Wolves rarely looked in danger though against a Villa team who had scored just twice in their previous five league games.Jack Grealish – who has now failed to score in his last nine matches – managed their only shot on target nine minutes before the break but Rui Patricio was untroubled. Wolves began to find more space to put the hosts under some concerted pressure and they were almost gifted an opener just before the break.There should have been no issue for Nyland as he attempted to throw to Taylor but the goalkeeper made a complete mess of it, only presenting Jota with the ball.Yet Villa survived the major let-off when, with Nyland out of his goal, Jota could only blast over from 18 yards.The mistake aside, Villa had remained organised and diligent at the back as they searched for just their second clean sheet in 17 games.RelatedPosts Runarsson joins Arsenal on four-year deal EPL: Gunners gun for West Ham scalp EPL: Red Devils attack Palace Without a typical derby atmosphere the game struggled to ignite, something both managers tried to change as John McGinn and Adama Traore were introduced on the hour.And two minutes later Traore was involved in the build up for Wolves to grab the winner from an unlikely source.The winger found Jimenez on the left and his pinpoint pass spotted Jonny’s deep run into the box.The wing-back then teed up the on-rushing Dendoncker to drill in just his fifth goal of the season from the edge of the box.It was the same story for Villa, despite improved defensive resilience they failed to create chances with striker Ally Samatta looking woefully ill-equipped.The January buy headed over with 13 minutes left but there was no rousing comeback from the hosts with the two teams heading in opposite directions.Tags: Aston VillaEnglish Premier LeagueRelegationWolverhampton Wandererlast_img read more

Rabbatts makes commission plea

first_imgFootball Association board member Heather Rabbatts has launched a fierce attack on chairman Greg Dyke’s decision to name an all-white, all-male commission to improve the England team. Press Association Rabbatts, who was born in Jamaica and is of mixed race, has written to all fellow board members criticising the lack of diversity on the commission and saying the FA is letting down black players. In her letter, she says she has tried to raise the issue privately but there has been a “refusal to understand” her position. Her decision to go public leaves Dyke and the FA facing a crisis over the commission. center_img The letter, a copy of which has been seen by Press Association Sport, stated: “I believe that the lack of proper consultation on the make up of the commission, the fact that no approval was sought from the board, releasing the names of the ‘chosen’ individuals at Leaders in Football, the composition of the commission itself and the lack of diversity, have all meant that the opportunity to lead an informed debate on the future of English players has been singularly damaged. “I make the comments about diversity not because they are additional to this matter but because they lie at its heart.” Rabbatts’ letter goes on to say it is “ironic” there is no representative from ethnic minority communities given that Andros Townsend, the Tottenham winger who played a key role in England’s victories on Friday and Tuesday and then found himself at the centre of a race row this week through no fault of his own, is himself black. Rabbatts backs the FA’s support for England boss Roy Hodgson after his dressing room joke about a monkey in space but added: “As the commission looks to address all of the complexities of its brief, it will crucially have to come to a view on nationality, race and identity. “To have announced a list without anyone who can speak from experience and in an informed manner on those three areas has exposed the FA at a vital moment. “What is required is not tokenism but the involvement of individuals who have direct and relevant experience of what it means to represent their country while coming from diverse cultural backgrounds. “By proceeding along this current path we are not only failing to reflect our national game but we are also letting down so many black and ethnic minority people – players, ex-players, coaches and volunteers, who have so much to offer and are so often discouraged and disheartened by the attitudes they encounter. The FA should be leading by example not reinforcing entrenched attitudes.” As well as Dyke, the commission will include former England manager Glenn Hoddle, Football League chairman Greg Clarke and FA vice-chairman Roger Burden, League Managers’ Association chairman Howard Wilkinson, Professional Footballers’ Association chairman Ritchie Humphreys, Crewe director of football Dario Gradi and former England defender Danny Mills. The FA has stressed the line-up of commission members is not necessarily complete, and that many other people will also be consulted. However Dyke has said it will consist of no more than 10 members. last_img read more

Help News Talk 850 WFTL Serve You Better During These Challenging Times

first_imgThanks for your support during this difficult period, and we especially appreciate you listening to News Talk 850 WFTL  This survey will take 12-15 minutes of your time, and please know your opinions and identity will be kept completely confidential. Please note our survey will only be open through 11:59pm (ET) Thursday, May 14th, so please do take it soon. It is input from listeners like you that help us better understand how you’re feeling and how we can better serve you. Brennan ForsythAssistant Program Director We hope this message finds you and your family doing well. News Talk 850 WFTL is conducting a brief survey about how our audience is doing during the COVID-19 outbreak.center_img You may have taken a COVID-19 survey from us last month, and this new survey is a follow-up designed to see how you’re doing now. There are also some interesting new questions. We appreciate your participation and would love for you to take this survey, too. CLICK HERE If you’re new to these COVID-19 surveys, we invite you to weigh in with your opinions and thank you in advance.last_img read more