Indonesia imports, exports hit all-time high in March
JAKARTA – Indonesian imports and exports reached a new peak in March on surging global commodity prices fueled by a post-pandemic global economic recovery and the Ukraine war. Statistics Indonesia (BPS) said on Monday that exports rose 44.36 percent year-on-year (you) to US$26.50 billion, the…
Indonesia Delays Carbon Tax Amid Rising Inflation
Jakarta – The government’s decision to delay carbon tax implementation by three months has come as a relief to Indonesia’s economy, which already had to cope with rising fuel, cooking oil, and soybean prices as well as a value-added tax rate that increased by one percentage point this month. …
G20 encourages development of framework for financial transition
Jakarta – The second Sustainable Finance Working Group (SFWG) meeting under the G20 Indonesia Presidency encouraged the development of a framework for financial transition and to increase the credibility of financial institution commitments. “This includes transitional frameworks, case studies, and commitments of financial institutions, which…
Gov’t to disburse Rp300,000 in cooking oil cash assistance
Jakarta (ANTARA) – The government will provide a total of Rp300 thousand in cash assistance to 20.5 million families and 2.5 million street vendors to help ease their burden due to the increase in cooking oil prices. “We will provide assistance of Rp100 thousand each…
GoTo Secures OJK Approval for $1.1b IPO
Jakarta – The largest digital ecosystem company in Indonesia, GoTo Gojek Tokopedia, has secured a greenlight from the Financial Services Authority, or OJK, for its $1.1 billion share offering on the country’s stock exchange tomorrow, the company said in a statement on Thursday. GoTo will offer 46.7 billion Series A…
The 20 Fastest Growing Jobs in the Next Decade
JAKARTA -The employment landscape is constantly shifting. While agricultural jobs played a big role in the 19th century, a large portion of U.S. jobs today are in administration, sales, or transportation. So how can job seekers identify the fastest growing jobs of the future? The U.S. Bureau…
Companies make Rp92.3 trillion investment commitment: Indonesian govt
JAKARTA -Coordinating Economic Affairs Minister Airlangga Hartarto confirmed that companies had expressed commitment to invest Rp92.3 trillion in 19 special economic zones, out of which Rp32.76 trillion had been realized as of July 2021. “Until July, 166 investors had invested in special economic zones and…
Indonesia’s August exports hit record as resources boom
Indonesia’s exports hit a record high of $21.42 billion in August, boosted by surging commodity shipments, helping Southeast Asia’s biggest economy post its largest ever monthly trade surplus, official data showed. The resource-rich country’s August shipments rose 64.1% from a year earlier, according to data…
World Bank approves loan for hydropower plant in Indonesia
JAKARTA -The World Bank has approved a $380m loan for the development of the first pumped-storage hydropower plant in Indonesia. The loan will be used to build the 1,040MW Upper Cisokan plant located between Jakarta and Bandung. World Bank Indonesia and Timor-Leste country director Satu…
Tax reform to help Indonesia escape middle-income trap: minister
JAKARTA -Finance Minister Sri Mulyani Indrawati has said that tax reform is part of efforts to help Indonesia escape the middle-income trap. “To avoid the middle-income trap, we must conduct fiscal consolidation, particularly as a result of the pandemic, to create a sound state budget…