Improving domestic consumption, government capital spending and further structural reforms, along with potentially loose monetary policies, could help support the Indonesian market.

“The Indonesian authorities have continued to strengthen their macroeconomic policy record with a focus on macro stability and sustainable growth since Fitch revised Indonesia’s Outlook to Positive from Stable in December 2016,” said Fitch. “Credible GDP growth assumptions in the revised budget for 2017 were recently approved in parliament, illustrating an apparent shift away from the overly ambitious annual growth targets adopted in budgets in the past several years.”

EIDO is seven years old and tracks the MSCI Indonesia Investable Market Index. The ETF holds 92 stocks. Financial services names account for almost 32% of the ETF’s weight while, but EIDO is adequately leveraged to the Indonesian consumer as the consumer discretionary and consumer staples sectors combine for more than 27% of the ETF’s weight.

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