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March 18, 2025 | 06:05 pm
TEMPO.CO, Jakarta - The Composite Stock Price Index, or IHSG plummeted by 5 percent on Tuesday, March 18, 2025. In response to the collapse of the domestic stock market, Finance Minister Sri Mulyani presented the latest report on state revenue, hoping to calm the market.
Sri Mulyani stated that the gross revenue of the State Budget (APBN) grew by 6.6 percent in March 2025. She mentioned that there had been a turnaround, better than what the Ministry of Finance reported last week. "This is meant to calm down the media and the market," she said in a press conference at the central office of the Directorate General of Taxation in Jakarta, on Tuesday, March 18, 2025.
The state treasurer said that the state revenue position has been positive since March 1-17, 2025. Earlier, Sri Mulyani admitted that the gross state revenue was negative by 3.8 percent at the end of February 2025. Furthermore, amidst market turmoil, Sri Mulyani assured that government bonds still attract investors' interest.
Sri Mulyani also assured that government finances would be well managed. The former Managing Director of the World Bank ensured that the 2025 State Budget deficit will be maintained at 2.53 percent of the Gross Domestic Product (GDP). "We will keep it updated," she said.
On Tuesday, March 18, 2025, there was a temporary halt or trading halt in the first session of the Indonesia Stock Exchange. The IHSG position dropped by 5.02 percent to 5,146.
The Corporate Secretary of the Indonesia Stock Exchange, Kautsar Primadi Nurahmad, conveyed this through a written statement. "We hereby inform that today, Tuesday, March 18, 2025, a temporary trading halt has occurred at the Indonesia Stock Exchange (IDX) at 11:19:31 Jakarta Automated Trading System (JATS) time, triggered by a 5 percent decline in the IHSG."
A trading halt is the exchange's policy to temporarily halt stock trading. This is done to correct imbalances, fix technical errors, or in the event of too rapid index movements. The exchange implements this measure to prevent potential investor losses due to extreme price fluctuations.
Aisha Shaidra contributed to the writing of this article.
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