Indonesia has tried all kinds of tricks in the book to revive sluggish consumer spending, from tax-free cars to cashbacks, to little result. Now it’s turning up the hype on online shopping. More than 70 e-commerce platforms, including giants PT Tokopedia, Lazada Group SA and Shopee, are taking part in the “national shopping week” launched […]
Read MoreJAKARTA: Indonesia’s economy contracted more than expected in the first quarter (Q1), as one of the fastest vaccine rollouts in South-East Asia hasn’t been enough to revive domestic demand. Gross domestic product (GDP) declined 0.74% in Q1 from a year ago, the statistics bureau said yesterday, worse than the median estimate of -0.65% in a […]
Read MoreJAKARTA (REUTERS) – Indonesia’s economy shrank for the fourth straight quarter in January-March but at a much more modest pace as the government boosted spending and higher commodity prices helped exports, statistics bureau data showed on Wednesday (May 5). The outlook, however, is being clouded by continued Covid-19 infections, which are weighing heavily on household consumption, […]
Read MoreJakarta. Indonesia has seen inflation accelerated to its fastest pace in three months in April, as demand for foods and clothes during the Islamic fasting month of Ramadan picked up and drove up the commodities’ prices. The consumer price index — a composite measure gauging price level from a broad basket of goods — rose 1.42 percent in April […]
Read MoreJAKARTA: Indonesia’s economy is expected to have contracted more slowly on an annual basis in the first quarter of 2021 as higher consumer spending and investment helped underpin the economy’s recovery from the COVID-19 pandemic. Southeast Asia’s largest economy is expected to have slumped 0.74% from a year ago during the January-March quarter, after a […]
Read MoreJAKARTA: Indonesia plans to reduce its budget deficit next year to within a range of 4.51% to 4.85% of gross domestic product (GDP), from an estimated 5.7% this year, as part of its fiscal consolidation measures, a finance ministry official said yesterday. Febrio Kacaribu, who heads the ministry’s fiscal policy office, told a virtual seminar […]
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