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…

Monday Briefing

Economy: Indonesia’s economy would suffer a contraction of 1.0 percent this year before recovering and grow 5.3 percent in 2021, according to the recent forecast by Asian Development Bank (ADB). The stronger household discretionary spending, improved investment climate, and a recovery in the global economy would help the recovery next year. “The COVID-19 pandemic has…

Friday Briefing

Economy: Finance Minister frankly conveyed a pessimistic estimation that Indonesian economy will be increasingly depressed in the second quarter of 2020 when the economy would start contracting. In the quarter economic growth is expected to decline to -3.1 percent, far below the growth in the first quarter of 2020 of 2.97 percent. The increasingly depressed…

Monday Briefing

Economy: Another bleak prospect of the Indonesian economy was conveyed by the Organization for Economic Cooperation and Development (OECD).  The multilateral organization estimated Indonesia’s GDP would drop by 2.8 percent this year, or by 3.9 percent if a global second wave of Covid-19 infections occurs later in 2020. In 2021, Indonesia’s economy would grow by…

Friday Briefing

Economy: Uncertainty on the end of Covid-19 pandemic has caused the World Bank conveyed its pessimistic views on the Indonesian economy. The World Bank estimates that the Indonesian economy in 2020 might  experience zero growth. One reason is because of Large-Scale Social Restrictions (PSBB) to break the chain of transmission of Covid-19 which makes stagnation…

Monday Briefing

Economy: Morgan Stanley predicted that Indonesia would suffer a low impact on the global recession due to the Covid-19 pandemic. The country might exit from the crisis quickly because the fairly small dependence on exports compared to other countries in the region. In its research, Morgan Stanley analyzed which countries will return to the GDP…