INDONESIA D AILY ECONOMIC UPDATE
                                         Friday, 13 April 2018



 ECONOMIC HIGHLIGHTS
 Moody’s Investor Service (Moody’s) upgrades the Sovereign Credit Rating of the Republic of Indonesia
    from Baa3 (Positive Outlook) to Baa2 (Stable Outlook) on April 13th, 2018.
 Pertamina reduced the first selling price of 5.5-kilogram Bright Gas variant from IDR 325,000 per cylinder
    to IDR 270,000 to smoothen the transition of customers using the variant from the previous one.
 Ministry of Transport has allocated IDR 65 billion for free transportation during the festive season in 2018,
    where IDR 35 billion goes on land transport, IDR 20 billion on train, and IDR 10 billion on sea transport.
 Bank Indonesia plans to ease pre-order property credit to increase credit sales and growth, and to create
    more jobs.
 The government will improve the efficiency of ports with the aim of reducing logistics costs by between 20
    to 30 percent, through the commencement of maritime highway (tol laut) program.

 DAILY INDONESIAN FINANCIAL INDICATORS

                                                                                 Change                  Change or total
                                                          Date of                 since
                                                                       Unit
                                             Latest        latest                  last        In last     In last     Year-to-
                                             value         value                 trading       week*       month*       date
                                                                                   day

 Stock market
 Jakarta Composite Index                        6,270      13 Apr                    -0.6%        1.5%        -1.8%         -1.3%
                   Net purchases by             -0.62      13 Apr      IDR, tn           --        -1.9        -11.5         -26.2
                    foreign investors

 Exchange rate: IDR/USD
                    Bank Indonesia             13,753      13 Apr                    -0.1%       -0.1%         0.1%          1.5%
                        Bloomberg              13,755      13 Apr                    -0.2%       -0.2%         0.2%          1.5%

 Government bonds
               Yield: 1 year IDR bond            5.3%      13 Apr         bps           0.0         11            13            19
               Yield: 5-year IDR bond            6.2%      13 Apr         bps           3.9          1           -17           -36
              Yield: 10-year IDR bond            6.7%      13 Apr         bps           0.3         -2           -22            70
        Foreign holdings of IDR bonds             871      11 Apr      IDR, tn            --         5            42            35
    Indonesia USD bonds strip spread              171      12 Apr         bps          -4.5         -4            -9             5
         Asia USD bonds strip spread              167      12 Apr         bps          -3.2         -3            -1            12
  Indonesia sovereign CDS: 5yr, mid-              100      12 Apr         bps           0.0         -4            15            12
                                 price

 Corporate bonds
   Indonesia USD bonds strip spread                 267    12 Apr          bps           -4         -10           -3            46

 Interest rates
                      JIBOR overnight            4.0%      13 Apr          bps          0.5         4.8          6.0          11.6
                  JIBOR spread relative          -23.4     13 Apr          bps          0.5         4.8          6.0          11.6
                          to policy rate

 International reserves                         126.0      31 Mar    USD, bn              --          --        -2.1          -4.2

 * One week and month prior to latest observation


 SOURCES
 Data are taken from the following: the latest Jakarta Stock Exchange and Indonesian government IDR bond yield data are taken from
 the Indonesian Stock Exchange (www.idx.co.id). BI JIBOR and IDR mid exchange rates from Bank Indonesia (www.bi.go.id), after 5
 pm each day. BI reports international reserves data directly. The Directorate General of Debt Management at the Indonesian Ministry
 of Finance provides data on the foreign holdings of IDR government bonds (www.dmo.or.id). The CDS premium on 5-year Indonesian
 government USD bonds and Indonesian corporate bond spreads are sourced from JPMorgan.