Jakarta, (Antara Sumbar) - Indonesia has some potential to improve its investment grade rating given by Standard & Poor's (S&P), Indonesian Coordinating Minister for Maritime Affairs Luhut Panjaitan stated here on Friday.
"I personally believe that we have the potential, and perhaps it will happen early or by the end of next year," he noted.
S&P, an international financial index provider, rated Indonesia as "BBB," or medium-credit quality, in May 2017, while the highest rank is "AAA."
This means investment in Indonesia is considered safe, Panjaitan explained.
Moreover, some economic projections indicated that Indonesia will continue to grow.
S&P's report in May 2017 noted that the BBB rating for Indonesia was supported by an effective fiscal policy to create economic stability amid sluggish global economic growth.
At the same time, S&P lauded the Indonesian government for preparing a realistic budget to minimize the risks of low capital revenue and prevent more budget deficit.
Minister Panjaitan expressed hope that the investment grade rating from S&P will increase global confidence to invest in Indonesia and enable the government to lower its cost of debt and provide a larger fiscal room. (*)
Editor: Vicha Faradika
Indonesia Has Potential To Improve S&P's Investment Grade Rating: Official
Illustration - Investment. (Antara)
