20 Aug 2018
INDONESIA: Current Account Deficit Sees Import Levy Hiked and Infrastructure Work Suspended
Import taxes are set to be increased by 7.5% for some 500 categories of consumer products, including many that are typically purchased via cross-border e-commerce. The move is intended to restrict imports and ease the pressure on the Indonesian rupiah amid growing market concerns over the national current account deficit.
As an additional measure, plans are also in place to suspend work on many infrastructure projects in a bid to reduce the import of inputs and capital goods.