President Joko “Jokowi” Widodo signed Wednesday Perpres No. 72/2020, a presidential regulation that regulates an increase in state spending and a widening state budget deficit amid Indonesia’s fight against the coronavirus pandemic. The government now officially states that the 2020 state budget deficit is expected to reach Rp 1.03 quadrillion (US$73.4 billion) or 6.34 percent […]
Read MoreThe recent layoffs in Indonesia’s two decacorn ride-hailing apps Gojek and Grab have forced the start-ups to reassess their pursuit of becoming “super-apps” as the pandemic has pushed them to retire some of their non-core businesses, experts have said. Starting their businesses as ride-hailing applications, both Grab and Gojek have been racing to become apps […]
Read MoreEasing mobility restrictions in various regions across Indonesia will not provide an instant boost to the country’s retail sector as wary consumers are expected to still limit their store visits amid a steady rise in COVID-19 cases, analysts have said. Mirae Asset Sekuritas Indonesia economist Anthony Kevin found that customers did not immediately flock to […]
Read MoreE-commerce platform Shopee has found a significant increase in male users buying ingredients as food sales on its platform surged during the social distancing period. Shopee Indonesia director Handhika Jahja said men’s purchases of fresh, frozen and instant food products had increased six-fold compared to last year, suggesting that men had been making more home-cooked meals […]
Read MoreRide-hailing firm Grab Indonesia contributed Rp 77.4 trillion (US$5.45 billion) to the Indonesian economy last year, largely thanks to its food delivery service, while providing gig work for the country’s informal workers, research released Thursday has shown. The research, conducted by the Centre for Strategic and International Studies (CSIS) and Tenggara Strategics, revealed that the […]
Read MoreIndonesia’s economy is on track for a significant contraction this year as the coronavirus crisis has hit the global economy more severely than previously expected, the International Monetary Fund (IMF) has forecast. The United States-based institution projects that Southeast Asia’s biggest economy will contract by 0.3 percent this year, according to the June update of the World […]
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