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View all search resultsSeveral business sectors including trade, construction and real estate, as well as mining fell at a faster rate in July compared with June, signaling a slowing economic recovery, Finance Minister Sri Mulyani Indrawati said.
Fitch cited a favorable medium-term growth outlook and low government debt-to-GDP ratio against high dependence on external financing among the reasons for retaining the rating, but also noted issues around low state revenue and lagging structural indicators.
If the government imposes a wealth tax of just 2 percent on these HNWIs it could collect additional revenue of Rp 40.38 trillion, a sum more than enough to fund the Family Hope poverty alleviation program in 2020 (Rp 37.4 trillion).
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