Indonesia’s economy may shrink 3.5 percent this year should the large-scale social restrictions (PSBB) imposed by several regional administrations nationwide last for four months, according to a worst-case projection by the World Bank, as the government rushes to reopen the virus-battered economy. Under its baseline scenario, however, Indonesia’s economy is expected to grow zero percent […]
Read MoreSINGAPORE: Facebook Inc messaging platform WhatsApp and Paypal Holdings Inc on Wednesday said they have invested in payment and ride-hailing firm Gojek as part of the Indonesian firm’s ongoing fundraising round. WhatsApp and Paypal did not disclose the size of the investment or the stakes they would receive. WhatsApp Chief Operations Officer Matt Idema in […]
Read MoreIndonesia’s Lion Air, which suspended all of its scheduled domestic flights late last month, said it will remain grounded indefinitely — including international services — because of the impact coronavirus-related restrictions have had on travel. The carrier, whose slogan is “we make people fly”, is grounding its fleet from Friday, it said in a statement. […]
Read MoreThe government has vowed to continue the development of national strategic projects during the COVID-19 health crisis with the addition of 89 new projects of an estimated Rp 1.422 quadrillion in investment value. Coordinating Economic Affairs Minister Airlangga Hartarto said on May 29 that the new projects were an addition to the existing 223 national strategic projects., and […]
Read MoreIndonesia’s headline inflation moderated for the third straight month, led by further easing in food inflation, while core inflation also edged down. The combination of benign price pressures, weak growth and easing downward pressure on the IDR suggests a rate cut by Bank Indonesia this month is on the cards said ANZ Research in a […]
Read MoreBank Indonesia’s (BI) policy measures and a narrowing current account deficit (CAD) will likely support the rupiah amid unfavorable financial market conditions, however risks remain as Indonesia continues to record new COVID-19 cases while facing limited healthcare capacity, experts warn. Fitch Solutions has revised it outlook for the rupiah for 2020 to 15,500 per US dollar […]
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