2022 State Budget: Fiscal Policy and Structural Reform
IDR Tn
80
60
40
20
0
-20
-40
-60
-80
-100
-120
-140
Jan-19
Domestic Capital Market Performance Amid Global Challenges
Despite the emergence of the Omicron variant, investors are still optimistic for a faster economic recovery and countries are still boosting their vaccination rate.
10%0
Entering the end of 2021, global indices recorded a steady improvement
although few countries still face challenges to recover.
Stock Index Performance as of 3 December 2021 (compared to 31 Dec'20)
JCI's performance continues to recover and has returned to its pre-
pandemic level, reflecting positive sentiments from the market.
Comp Bond Index
Comp Stock Index (rhs)
340
7000
TURK
EU
16.26%
320
6500
US
WORLD
12.98%
12.06%
6000
300
THAI
9.58%
INDO
9.36%
6,538.51
5500
SIN
280
9.08%
CHIN
S KOR
3.87%
3.30%
5000
260
4500
JPN
2.13%
240
PHIL
-1.18%
4000
MAL
-7.71%
BRAZ -11.72%
220
3500
HKN-12.72%
(% YTD)
200
3000
-15%
-10%
-5%
0%
5%
10%
15%
20%
Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21
As the Omicron variant emerges, non-resident portfolios of government
bonds & equity recorded a total net sell of YTD IDR24Tn in Dec 2021.
However, the equity market marked a YTD net buy of IDR35.48 Tn as of Dec
3rd 2021.
Source: Bloomberg and Ministry of Finance
Gov't Debt Securities
Mar-19
May-19
Jul-19
Sep-19
Nov-19
Jan-20
Mar-20
May-20
■ Equity
As of 3 December, 2021
Jul-20
Sep-20
Nov-20
Jan-21
Mar-21
May-21
Jul-21
Sep-21
Nov-21
8
-4.02
7
LO
5
Jan-19
6
9
Yield (%)
10
5-yr Yield
Mar-19
May-19
Jul-19
Sep-19
Government bond yields remain competitive with a slight increase,
followed by stable rupiah as risk premium is maintained.
20-yr Yield
IDR (rhs)
Nov-19
Jan-20
Mar-20
May-20
Jul-20
Sep-20
Nov-20
Jan-21
Mar-21
May-21
10-yr Yield
USD/IDR
18,000
14,000
10,000
Jul-21
Sep-21
Nov-21
6,000
2,000
173View entire presentation