Indonesia preparing special strategy to handle food, energy crises
JAKARTA – The Indonesian government is preparing a special strategy for 2023 to deal with the food and energy crises, Coordinating Minister for Economic Affairs, Airlangga Hartarto, said at the State Palace on Monday. “President Joko Widodo (Jokowi) had asked us to prepare a strategy…
Indonesia central bank sells government bonds to absorb excess liquidity
JAKARTA – Indonesia’s central bank has sold some of its holdings of government bonds in the secondary market, an official said on Monday, stepping up its normalisation of monetary policy after keeping liquidity very loose during the pandemic. Bank Indonesia (BI) is among the world’s…
Government removes palm oil export levy until Aug. 31
JAKARTA – Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finance ministry officials said on Saturday, adding the move would not disrupt government revenues. The decision by the…
Jokowi Is Optimistic Indonesia to Reach 5.1% Growth in Q2
JAKARTA – President Joko “Jokowi” Widodo said he was optimistic Indonesia’s economy could have expanded 5.1 percent in the last quarter, supported by increasing public consumption and investment amid robust investors’ confidence in the country. With the remarks, Jokowi underlined Indonesia’s resilience in the face of rising inflation…
Subsidized fuel price hike may significantly affect inflation
Jakarta – An increase in subsidized fuel oil prices may significantly impact inflation and reduce the people’s purchasing power, an economist has predicted. “If, for instance, (the prices) are raised now, then they will significantly contribute to inflation which will eventually lower the purchasing power,”…
G20 to Tackle Soaring Global Food Price
Jakarta – Members of the G20 have expressed concerns about soaring global food and energy prices triggered by the war between Russia and Ukraine and expressed intent to solve the supply problem, Indonesian Minister of Foreign Affairs Retno Marsudi said Friday. The war and subsequent sanctions against…
MSMEs play major role in global economic recovery
Jakarta – Micro, small and medium enterprises (MSMEs) make up 99 percent of all Indonesian businesses, accounting for more than 60 percent of the GDP and investment in the country. With 97 percent of all national employment coming from MSMEs, their continued presence and survival…
Indonesia should build investor-friendly political system: Bappenas
Jakarta – Indonesia should create a friendly environment for investors from developed countries, especially in terms of the political system, officials at the National Development Planning (PPN) Ministry and National Development Planning Agency (Bappenas) stated. The political system here means the regulatory framework for policies…
Forex Reserves Moves Up in June, but Further Rupiah Depreciation Expected
Jakarta – Bank Indonesia, the country’s central bank, reported an increase in the country’s foreign exchange reserves to $136.4 billion at the end of last month, up xx percent from $135.6 billion a month earlier. “The increase of official reserve assets position in June 2022…
Gov’t readies Rp283 trillion for MSME business credit program
Garut, West Java (ANTARA) – Coordinating Minister for Economic Affairs Airlangga Hartarto said the government has prepared Rp283 trillion (US$19.6 billion) for the people’s business credit (KUR) program for developing micro, small, and medium enterprises (MSMEs). “The KUR is provided by the government with 3…