Indonesia’s Q2 FDI shrinks 12.9pc

JAKARTA: Foreign direct investment (FDI) into Indonesia contracted 12.9 per cent in the second quarter from a year earlier, the country’s investment board reported yesterday. The drop is the first since at least 2011, according to Thomson Reuters data. Indonesia attracted 95.7 trillion rupiah (RM26.84 billion ) worth of FDI in April-June, or around US$7.1 billion using the board’s rupiah exchange rate of 13,400 to the dollar — the assumption made for the 2018 state budget. At 0338 GMT yesterday, the rupiah’s exchange rate was 14,615 to the dollar. The board’s data excludes banking and the oil and gas sector.