Global Economy
Moody's Investors Service said the United States, the United Kingdom, France, and Germany are well positioned to maintain their top Aaa ratings.
Gross domestic product in the euro area and European Union grew at the fastest pace in at least three and a half years, fostered by robust expansion in Germany.
Japan's economy unexpectedly expanded at quarter-on-quarter annualized rate of 0.4% in three months to June 2010, much lower than 4.4% in the first quarter.
Indonesia Economy
Indonesian government expects budget deficit to amount Rp 115.68 trillion next year, equivalent to 1.7% of national output.
The government plans to elevate electricity tariffs by 15% in early 2011, allowing total subsidies to decline to Rp 184.82 trillion from Rp 201.26 trillion in 2010.
To finance next year’s budget shortfall, central government will acquire more fund from notes issuance and earn less from foreign creditors than in 2010.
Sensitivity analysis revealed that the state budget has become more susceptible to change of economic growth. Oil price hike will have detrimental effect on 2011 budget, compared to its positive influence on revised 2010 budget.
Banks loan-to-deposit ratio was recorded at 77.34% on 13 August 2010, the highest since global financial crisis began in 2008. Lending and third party deposit respectively enhanced 19.54% and 13.84% annually.
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