Bank Indonesia (BI) has expressed its commitment to continue its role as a standby buyer for government bonds until 2021 to help fund the state budget deficit during the pandemic. BI Governor Perry Warjiyo said on Wednesday that the central bank would continue its role as a non-competitive bidder in government bond auctions next year, […]
Read MoreThe government is pinning its hopes on a growth rate of around zero percent this year as it struggles to spend a Rp 695.2 trillion (US$47 billion) stimulus budget to revive an economy reeling from the coronavirus pandemic. Finance Minister Sri Mulyani Indrawati said on Wednesday that economic growth could flatline at zero percent this […]
Read MoreState-owned Bank Negara Indonesia (BNI) booked a profit decline of more than 40 percent during the first half of this year as the COVID-19 pandemic caused its asset quality to deteriorate. The publicly listed bank booked Rp 4.46 trillion (US$301.34 million) in net profit in the first half of this year, down 41.6 percent compared […]
Read MoreIndonesia’s current account deficit (CAD) narrowed in the second quarter of the year as import demand fell and foreign ownership of government bonds declined, Bank Indonesia (BI) announced on Tuesday. The CAD narrowed in the second quarter to US$2.9 billion, down from 1.4 percent of gross domestic product (GDP) in the first quarter to 1.2 percent of GDP in quarter two. Southeast […]
Read MoreIndonesian urban consumers are more optimistic than their global peers despite more consumers being impacted financially as a result of the COVID-19 pandemic, a survey has shown. According to the recently launched Global Consumer Insights Survey 2020 by PricewaterhouseCoopers (PwC), 64 percent of Indonesian consumers say that they are going to spend more over the […]
Read MoreThe government is turning to the power of storytelling to promote the country’s major tourist destinations, which will likely involve help from social media influencers, to revive the sector that has been deeply impacted by the pandemic. President Joko “Jokowi” Widodo, in his annual state address and financial note speech at the House of Representatives […]
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