Indonesia’s digital economy has soared over the past five years, but the government’s restrictions on investment and innovation could stifle growth, experts have warned. The country’s digital economy is projected to triple to US$100 billion by 2025, however Indonesia remains the fourth most restrictive country for digital trade out of 64 countries surveyed by the […]
Read More[JAKARTA] Indonesia’s trade deficit swelled in January as exports fell sharper than expected, although imports contracted for the first time in 19 months, data from the statistics bureau showed on Friday. Southeast Asia’s largest economy had a trade gap of US$1.16 billion in the first month of 2019, larger than the US$970 million deficit expected in a […]
Read MoreDespite seeing a significant decrease in oil and gas and consumer goods imports, Indonesia posted a US$1.16 billion trade deficit in January 2019 because of slower exports and low commodity prices. Exports decreased 3.24 percent month-to-month (mtm) and 4.7 percent year-on-year (yoy) to $13.87 billion because of a 29.3 percent mtm decrease in oil and gas exports to $1.24 billion. Meanwhile, imports went […]
Read MoreThe Financial Services Authority (OJK) has found that 231 illegal peer-to-peer lending (P2P) providers, including those from other countries, have been operating in the country since January. The OJK reported its findings on Wednesday, revealing that the lenders were based on websites, applications uploaded to the Google PlayStore and Instagram. OJK investment alert task force chairman Tongam […]
Read MoreState-Owned Enterprises Minister Rini Soemarno has expressed hope that aviation turbine (avtur) fuel will be exempted from value-added tax (VAT). The price of avtur has been blamed for high airline ticket prices. “Hopefully the VAT for avtur will be abolished,” said Rini in Jakarta on Wednesday. The government slapped a 10 percent VAT on avtur for domestic flights while international flights are exempt from […]
Read MoreE-commerce is like a double-edged sword for the Indonesian economy. On the one hand, it has contributed significantly to the country’s state revenue, on the other hand, it has contributed to the country’s trade deficit. The Finance Ministry’s Customs and Excise Directorate General recorded that the contribution of import duties from e-commerce products to state […]
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