The Indonesian government sign an agreement with the Japan International Cooperation Agency (JICA) for a soft loan related to the funding of two national strategic priority projects. The government will borrow 127.2 billion Japanese yen (approx. USD $1.1 billion) for the construction of the Patimban Seaport in West Java (USD $1.05 billion) and for turning the Gadjah Mada University into a world class university (USD $66.67 million).

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Demand for cement in Indonesia is rising ahead of the year-end. Growing cement demand is attributed to the speeding up of construction of several national strategic infrastructure projects. Widodo Santoso, General Chairman of the Indonesian Cement Association (ASI), said cement consumption in Indonesia rose 12.5 percent year-on-year (y/y) to 6.76 million tons in October 2017.

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The International Monetary Fund (IMF) released several preliminary statements related to the latest visit of a IMF team, led by Luis E. Breuer, to Indonesia (the visit took place between 1 - 14 November 2017). Overall, the team sees the continuation of good economic growth in Indonesia, supported by prudent macroeconomic policies, improved global GDP growth and rising commodity prices, as well as sustained efforts to strengthen the nation's competitiveness.

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Indonesian steel manufacturers urge the government to curb the dumping of steel by foreign traders in Indonesia. Hidayat Triseputro, Executive Director of the Indonesian Iron and Steel Industry Association (IISIA), says the key problem is the free trade zone in Batam (located close to Singapore) where steel can be imported duty-free.

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