The government will not slash the vehicle tax (PKB) on new cars for individuals and businesses to zero percent this year, Finance Minister Sri Mulyani Indrawati said on Monday, despite calls from the Industry Ministry and the automotive industry to do so. Sri Mulyani said the Finance Ministry was not considering the tax cut proposal […]
Read MoreJAKARTA: Indonesia’s budget deficit was estimated at 682.1 trillion rupiah (US$46.56bil) in the January-September period, equivalent to 4.16% of gross domestic product (GDP), Finance Minister Sri Mulyani Indrawati said. The government has forecast a fiscal deficit of 6.34% of GDP for 2020, the widest in decades, due to increased spending on the Covid-19 pandemic response. […]
Read MoreIndonesia has urged leaders of G20 nations not to end their financial support programs prematurely to help ensure the recovery of the pandemic-battered global economy, while also calling for international cooperation in the development and distribution of a COVID-19 vaccine. Finance Minister Sri Mulyani Indrawati said a “partial and uneven” economic recovery could result in […]
Read MoreBank Indonesia (BI) will hold its benchmark interest rate in the fourth quarter at 4 percent until the end of 2021 as the central bank focuses on maintaining a stable currency amid the COVID-19 induced uncertainty, analysts have said as they revise their previous projections. In a report released by JP Morgan Chase analyst Nur […]
Read MoreSlowing loan growth and rising savings point to a continued plunge in economic activity in the third quarter of this year as consumer spending weakens, economists say. Loan disbursement only grew by 0.12 percent year-on-year (yoy) in September, Bank Indonesia (BI) data show. That figure is much lower than 1.04 percent annual growth recorded in […]
Read MoreIndonesia booked its highest exports in six months, driven by rising shipments of agricultural and manufactured goods in September, Statistics Indonesia (BPS) announced Thursday. In a sign of improving global demand, Indonesia has booked a trade surplus for five consecutive months. Exports jumped 6.97 percent month-to-month (mtm) in September to US$14.01 billion, the highest recorded […]
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