Despite a smaller fiscal deficit (1.6% of GDP) in 2023, markets are pricing in "Prabowo risk". The switch to a current account deficit will pressure IDR, requiring more rate hikes like last week's.
What is covered in the Full Insight:
Depreciation of IDR and Monetary Policy
Current Account Deficit
Fiscal Balance
Potential Risks from Future Political Decisions
Equity Market Evaluation and Underweight Recommendation
SUMMARY
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