Bank Indonesia (BI) is predicting that weakening economic activities, especially involving tourism, exports and imports, would drag down the country’s economic growth to 4.9 percent in the first quarter before picking up again in the following months. BI Governor Perry Warjiyo said on Wednesday the coronavirus had hurt export-import businesses and tourism-related industries in February, adding […]
Read MoreJAKARTA: The Indonesian government will soon announce a second policy package aimed at reducing trade barriers as supply chains have been disrupted by the spread of the new coronavirus, a senior official said on Tuesday. The measures would follow the government’s unveiling of a 10.3 trillion rupiah ($720 million) stimulus package last week to support […]
Read MoreIndonesia’s retail and shopping center associations were urging consumer restraint after news about the confirmed cases of COVID-19 in Indonesia triggered panic buying sprees. The Indonesian Retailers Association (Aprindo) and Indonesian Shopping Centers Tenants Association (Hippindo) issued statements on Monday which assured their members’ that food and non-food supplies were going to be more than enough […]
Read MoreJAKARTA: Indonesia is working on a second stimulus package to shore up South-East Asia’s biggest economy, adding to the central bank’s aggressive moves to counter the impact of the coronavirus on financial markets. A new tranche of fiscal measures would be “sizeable” and “bigger” than the first one of 10.3 trillion rupiah (US$725mil) announced last […]
Read MoreThe Asian Development Bank (ADB) will provide around US$2.7 billion in loans this year to support Indonesia’s human capital, infrastructure and green energy development. ADB president Masatsugu Asakawa said the bank planned to provide Indonesia with more loans this year than the $1.7 billion it provided in 2019. The bank plans to provide Indonesia with […]
Read MoreThe government plans to ease licensing procedures for importing raw materials as the country’s manufacturing industry begins to feel the impact of the disruption to the supply chain from China caused by the coronavirus outbreak. Finance Minister Sri Mulyani Indrawati said in Jakarta on Monday that simplifying import procedures for raw materials would be one […]
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