Jakarta to curb luxury imports
- Published: 23 Aug 2013 at 18.59
- Online news:
JAKARTA - Indonesia says it will curb imports of luxury goods including cars and take other steps to bolster its finances amid a slumping currency and stock market.
Indonesia, along with countries such as Thailand, Malaysia and India, has been buffeted by an exodus of cash from its financial markets as improving economic prospects in the US and Europe reverse the tide of money that swept into developing nations the past few years.
Among the measures announced on Friday, the government would relax mineral export quotas and streamline the investment permit process, said Hatta Rajasa, Coordinating Minister for the Economy.
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