13
Source: Ministry of Finance
Aggressive target of GDP growth of 6.3 Based on conservative oil price assumption
Target deficit at 1.1 of GDP and 37 debtGDP
Budget financing to rely more on domestic sources, primarily government debt
Increase expenditures for the regions Provide risk sharing scheme for PPP projects
Realization 2007 State Budget up to Q1
Budget Government bank
account 12.96
0.131 1
Privatization Asset disposal
3.5 0.192
4 Government bonds, net
40.6 27.2
66.9 Foreign Financing
-14.6 -8.7
Gross drawing 40.3
0.219 0.54
Amortizations -54.8
-9.5 17.3
Total financing 40.5
18.3 45.1
Financing In Trillion Rupiah
Realizations of
Budget
In Trillion Rupiah Budget
Realizations of
Budget Total revenues grants
723.1 103.7
14.6 Tax revenues
509.5 91.4
18 Non-tax revenues
210.9 12.3
5.8 Grant
2.7 0.21
0.8 Expenditures
763.6 104.8
13.7 Central Government
504.8 49.7
9.8 Capital Spending
73.1 2.6
3.6 Transfer to region
258.8 55.1
21.3 Overall balance deficit
-40.5 -1.07
2.64
1.000 Crude oil production mm bblday
63.0 Crude oil price USDbbl
8.5 SBI 3 months
9,300 Exchange rate USDIDR
6.5 Inflation
6.3 GDP growth
Assumptions
Very very preliminary number
Key Economic Indicators
14
Government support on PPP infrastructure projects
Electrical Power Infrastructures Crash Program
10.000 MW - PSO Public Service Obligation Policy
Trans Java Toll Highway Project
JORR II Jakarta Monorail
7
Framework
Promoting private sector participation in the provision of public goods through infrastructure development
Government will guarantee the economic of infrastructure project based on fairness of IRR through risk sharing scheme
10 model Project PPP Toll RoadsTransportation
Power Electricity
Covering sectors: transportation, toll road,
water supply, power and telecommunication
Government support in process:
15
10 Model Project PPP
Source: MoF
Sector Project
Specification Investment Cost
Status USD million
Transportation Margagiri-Ketapang
Ferry Terminal 1.2 mil pax
year 95
FS and tender document preparation Teluk Lamong Container
Port Ext Tanjung Perak 350 m berth 179
FS and tender document preparation Toll Road
Solo-Kertosono 177.12 km
870 Pre-qualification, 3 bidders are
preparing the proposal Medan Kualanamu
16 km 167
Preparation for prequalification Water Supply
Tangerang Water Supply 900 ls
33.7 Pre-qualification, tender evaluaion
Bandung Water Supply 450 ls
30.7 Review FS, tender doc concession
agreement dvt Dumai Water Supply
500 ls 44
Review FS, tender doc concession agreement devt
Power Pasuruan
1 X 500 MW 275
Preparation of Pre FS, tender will be started end of 2007 or early 2008
Central Java coal fired 2 X 600 MW
1200 Preparation of Pre FS, tender will be
started end of 2007 or early 2008 Telecommunication Palapa Ring
30,000 km, fiber optic
network 1500
Finalization of business model
16
2007 Debt Management Main Agenda
Conducting measurable debt switching government securities to manage refinancing risk and maintain liquidity;
Maintaining benchmark issuance to facilitate primary dealership system; Increasing market absorption, through product diversification retail and
Islamic and market maker;
Enhancing market infrastructure
Debt Capital Market Operation Debt Capital Market Operation
Loan Management Loan Management
1 1
2
Converting currency pool loan CPL and single currency pool debt SCPD into LIBOR basedfixed rate loan;
Focusing on fixed spread loanFSL for the World Bank laon with an option conversion into IDR loan;
Identifying expensive loan commercial credit and exchange it with lower cost debt;
Conducting debt swap; Determining credit exports allocation for year 2007 selectively based on their
projects and sources
17
Total Debt Outstanding 2001-2006
2002 2003
2004 2005
2006
P
a. Loan 63,7
