Monday Briefing

Economy: Indonesia’s economy contracted for the first time in over two decades in the second quarter of 2020 by a bigger than expected 5.32% from a year ago. It was the first contraction since 1999. The data showed a broad-based fallout from the Covid-19 pandemic and restrictions to contain its spread. Households curbed spending and…

Friday Briefing

Economy: The Asian Infrastructure Investment Bank (AIIB) said that the Indonesian economy  has huge potential   to recover from the impacts the Covid-19 pandemic. Indonesia is not the only nation to be reeling from the unprecedented pressure since nearly all countries worldwide are also facing a similar situation, elicited by the novel pandemic. Indonesia has its…

Monday Briefing

Economy: Considering that the impact of Covid-19 pandemic would continue, the Indonesian government,   through the Fiscal Policy Agency (BKF) of Finance Ministry, is preparing the National Economic Recovery (PEN) Program for 2021. According to BKF, allocation for the 2021 PEN Program involves a focus on social protection, MSMEs, as well as sectoral ministries and institutions…

Friday Briefing

Economy: Indonesia’s economy in the second quarter of 2020 worsened than the previous quarter but started to improve in June, according to Finance Minister. The economy in June started to rebound and with positive sentiment and trends. Several indicators of the economic recovery included a rebound in consumer confidence index, manufacturing Purchasing Managers Index (PMI),…

Monday Briefing

Economy: The Covid-19 Policy Control and National Economic Recovery is established through a Government Regulation signed by President Joko Widodo today. As the name implies, this committee will coordinate the work of two task forces, namely the Task Force for the Covid-19 Acceleration Handling and the National Economic Recovery Task Force. The Coordinating Minister for…

Friday Briefing

Economy: The World Bank Office in Indonesia predicted that the country’s economy is expected to begin reopening and recovering in August this year despite the Covid-19 pandemic pressure. The prediction constituted one of the World Bank’s three assumptions on the country’s economic growth this year. According to the World Bank,  Indonesia’s economy as a whole…

Monday Briefing

Economy: Total value of the Indonesian state’s assets has reached Rp10,467.53 trillion, according to the  Ministry of Finance. The increased value was recorded after the revaluation of state-owned goods (BMN) for the 2018-2019 period. The revaluation came up with an increase of Rp 4,000 trillion of the assets’ value. The Supreme Audit Agency (BPK) audited…

Friday Briefing

Economy: The relaxation of Large-Scale Social Restriction (PSBB), to facilitate economic recovery, in some regions would help reducing massive layoffs. According to  the Ministry for National Development Planning (Bappenas), relaxing PSBB will boost economic activities, and the wave of layoffs is expected to decline within the next few months. However, the economic capacity might not…

Monday Briefing

Economy: Indonesia is now officially categorized as an upper-middle income country. This is an upgrade from its previous status as lower-middle income, according to the World Bank’s latest country classifications by income level. The classifications are based on gross national income (GNI) per capita. Indonesia saw its GNI per capita rise to US$4,050 in 2019,…

Friday Briefing

Economy: The International Monetary Fund (IMF) cut its projection for the Indonesian economy while predicting the global economy would slump into a deeper recession this year. The IMF now says the Indonesian economy would slump 0.3 percent this year, before rebounding to a 6.1 percent growth in 2021. The world economy is likely to see…