Friday Briefing

Economy: A recent survey revealed that Indonesians are the most optimistic of their regional peers about the speed of economic recovery from the Covid-19 pandemic. The survey, which was conducted by market research firm Ipsos between 18 to 22 September and involved 500 people from six countries in the region, found that 75 per cent…

Friday Briefing

Economy: Ensuring Covid-19 vaccine availability is a crucial instrument for responding to the current pandemic as it could also aid national economic recovery. The remark was conveyed by Indonesian finance minister in the virtual meeting of G-20 Twenty Finance Ministers and Central Bank Governors. “The availability and access of vaccines is extremely necessary for COVID-19…

Monday Briefing

Economy: The plenary session of Indonesian parliament approved the controversial “Job Creation” bill. Previously, in a hearing on Saturday, which ended a few hours before midnight, representatives from seven out of nine factions in the legislation committee approved the bill to be brought to a parliamentary vote, while two factions rejected. The so-called “omnibus” bill,…

Friday Briefing

Economy: For the first time since the 1997/1998 Asian financial crisis,  Indonesia’s economy is set suffer a contraction as the country struggles to get Covid-19 pandemic under control. Gross domestic product is forecast to decline 0.6% to 1.7% this year, according to Finance Minister. The government previously had estimated the economy could grow 0.2% or…

Friday Briefing

Economy: Indonesia’s official reserve assets increased to a record high of  US$137.0 billion at the end of August 2020 from USD135.1 billion at the end of July 2020In its statement, the central bank said that the position of official reserve assets was equivalent to finance 9.4 months of imports or 9.0 months of imports and…

Monday Briefing

Economy: Only a month left for Indonesia to make an economic turnaround after experiencing a 5.32 percent contraction in the second quarter due to the economic impact of the coronavirus pandemic. President Joko Widodo told such a reminder to all 34 governors on Tuesday last week. If the third quarter results in a contraction cycle,…

Friday Briefing

Economy: Indonesian Finance Minister predicted that the country’s economic growth in the third quarter would undergo contraction. “The economic growth would also be still under the neutral growth in the fourth quarter because efforts to recover economic activities are still very weak,” the minister told a working meeting with the House of Representatives on 3…

Monday Briefing

Economy: Fitch Ratings (Fitch) has affirmed Indonesia’s Sovereign Credit Rating at BBB with a stable outlook. According to Fitch, key factors that support the affirmation are a favorable medium-term growth outlook and a low government debt/GDP ratio. On the other hand, Fitch underscores challenges including a high dependence on external financing, low government revenue, and…

Friday Briefing

Economy:  Indonesia’s efforts to support its economy through the coronavirus crisis were being hampered by the slow disbursement of a US$50 billion stimulus plan. Meanwhile, millions more people risk being plunged into poverty amid the pandemic, as data showed the economy shrank for the first time since 1999 in the second quarter. Five months after…

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…