Trump`s policy can spur Indonesia`s exports: Businessman

The implementation of US President Donald Trumps policy, especially in the economic sector, can boost Indonesias exports to the superpower, a national businessman stated.

Investment management entrepreneur Agus Yanuar informed Antara in Jakarta on Friday that in early 2017, analysts, including Yanuars company, had estimated that the dollar will strengthen, as the US governments budget is high.

Yanuar said during the period between January and October this year, the US is still using the Obama governments budget policy, so the US will begin implementing Trumps policy in November.

"Actually, if the program of President Trump is implemented, it will boost economic growth in the US, and this is good for the global economy," Yanuar noted.

Yanuar pointed out that Republicans in power were usually observed to set higher defense budgets. When the defense budget is higher, conflicts, such as in Syria and North Korea, will emerge and that could spur an increase in the global oil prices.

"The increasing global oil prices could spur the price of other commodities, which are the main export commodities of Indonesia. Hence, when Indonesias exports increase, the State Budget will be greatly benefited," Yanuar explained.

Meanwhile, stocks at the Wall Street on Thursday (Aug 24) fell by 28.69 points, or 0.13 percent. The decline in stocks in the US is feared to affect the movement of the composite stock price index and economic growth in Indonesia.

Analysts said US President Trumps statement hinted at his stance to shut down the government if budget is not allocated for the construction of a border wall with Mexico. This has hit the market and pushed the value of the US dollar down.

Source: ANTARA