INDONESIA is bracing for protests this week after the government raised fuel prices by more than 30 per cent to curb soaring subsidies, as higher costs hit households and small businesses across the archipelago. Tens of thousands of workers are set to demonstrate in Jakarta on Tuesday (Sep 6), with trade unions saying the fuel […]
Read MoreIndonesia’s Parliament has given a green signal to the country’s membership of the Regional Comprehensive Economic Partnership (RCEP) trade pact. The country expects to boost trade and foreign direct investment in various sectors. Indonesian textile sector may also hope for higher investment, but government’s policy may not encourage synergy within the bloc. With its accession, […]
Read MoreJAKARTA: Indonesia’s inflation rate eased more than expected in August, official data showed on Thursday, but economists said the rate is set to accelerate and more interest rate increases are likely amid expectation of a fuel price hike. President Joko Widodo has been considering raising subsidised fuel prices to curb ballooning energy subsidies amid high […]
Read MoreTEMPO.CO, Jakarta – Indonesia’s Finance Minister Sri Mulyani Indrawati said there was potential for a decline in the projected economic growth in 2023, which was initially pegged at 5.3 percent. Sri said this during a meeting with Commission XI of the House of Representatives on Wednesday, August 31. “If we look at it carefully, in 2023 there is […]
Read MoreTEMPO.CO, Jakarta – Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS) have agreed to initiate cooperation on cross-border Quick Response or QR code-based payment linkage between Indonesia and Singapore to encourage payment connectivity in ASEAN. “Bank Indonesia believes that the initiative marks an important milestone in strengthening bilateral financial cooperation between Singapore and Indonesia,” Governor of Bank […]
Read MoreMalaysia isn’t the only country in the region grappling with the dilemma of fuel subsidies. Having already tripled its original 2022 energy subsidy allocation to 502 trillion rupiah (RM151.4 billion) due to rising oil prices and a depreciating rupiah, Indonesia is reportedly looking into raising its subsidised fuel prices in a bid to ease the fiscal pressure, Reuters reports. The […]
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