Indonesia c.bank predicts U-shaped economic recovery from pandemic
Indonesia’s central bank expects a U-shaped recovery for Southeast Asia’s largest economy from the impact of the coronavirus pandemic, its senior deputy governor said in an online seminar on Monday. The economy likely shrunk between 4% to 4.8% in the second quarter “with a U-shaped…
BI Lowers Interest Rate as Slack Gov’t Spending Leads to Sharp Contraction in Q2
Bank Indonesia, the country central bank, has cut its benchmark interest rate to 4 percent to prop up the economy that could have shrunk by 4 percent in the second quarter this year amid the government sluggishness in spending the stimulus to counter the Covid-19 pandemic. That…
Indonesia to Pass Bicycling Rule Soon
The Ministry of Transportation will soon pass a regulation to protect cyclists. The ministry’s director general of land transportation, Budi Setiyadi, said that the rule would be issued once it was signed by Minister Budi Karya Sumadi. “We have completed the public test. We are now…
Indonesia’s economy to recover in August 2020: World Bank
Indonesia’s economy is expected to begin reopening and recovering in August this year despite the COVID-19 pandemic pressure, reported Xinhua news agency, quoting World Bank Country Director for Indonesia and Timor-Leste Satu Kahkonen on Thursday. The prediction on the start of the Indonesian economic recovery in…
Indonesia seeks to renegotiate trade, investment deal with Japan
The government is seeking to expand access to the Japanese market, reduce tariffs and liberalize the movement of workers in tourism through Indonesia-Japan Economic Partnership Agreement (IJEPA) renegotiations. According to the Trade Ministry’s bilateral negotiations director Ni Made Ayu Marthini, the government is focusing on…
Indonesia among preferred markets in ASEAN, DBS says
Indonesia is still among the preferred Southeast Asian markets for investment amid the country’s continuous fight against COVID-19, backed by strong household spending and a young working population, Singapore’s largest bank, DBS, has stated. In a report titled “CIO Insights 3Q20” released on Monday, DBS…
Indonesia Nears Deal With Central Bank on Budget Deficit Funding
Jakarta -Indonesia’s central bank may buy billions of dollars of sovereign bonds at zero interest, or below its benchmark rate to help the government finance a wider deficit arising out of stimulus measures to counter the fallout of the coronavirus pandemic. Bank Indonesia may bear…
Gov’t Prepares for ‘Adaptive Bureaucracy’ Post-Pandemic
Jakarta. The government has been making adjustments in various sectors of the bureaucracy – including by relying more on the use of advanced technology – to prepare for life after the coronavirus pandemic. Administrative and Bureaucracy Reforms Minister Tjahjo Kumolo said the pandemic has already forced…
Hotel Occupancy Rate in West Java Starting to Climb
Jakarta – The West Java Indonesian Hotel and Restaurant Association (PHRI) Chairperson Herman Muchtar on Monday said that the end of the large-scale social restriction (PSBB) had helped the hotel occupancy rate in Bandung increase to 60 percent the past weekend. He said that this surge of visitors was most felt last weekend;…
Indonesia’s LNG imports continue to rise despite economic downturn
Jakarta -Indonesia’s LNG imports are expected to be resilient against the coronavirus-led global economic downturn, says Wood Mackenzie. The country’s H2 2020 LNG imports could hit 3.1 million tonnes (Mt), a 1.2 Mt or 63% increase year-on-year. Despite a slow first quarter due to post-holiday…