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Indonesian economy struggles to bounce back

JAKARTA: Indonesia’s economy contracted more than expected in the first quarter (Q1), as one of the fastest vaccine rollouts in South-East Asia hasn’t been enough to revive domestic demand. Gross domestic product (GDP) declined 0.74% in Q1 from a year ago, the statistics bureau said yesterday, worse than the median estimate of -0.65% in a […]

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Indonesia’s recession eases as government boosts spending, exports recover

JAKARTA (REUTERS) – Indonesia’s economy shrank for the fourth straight quarter in January-March but at a much more modest pace as the government boosted spending and higher commodity prices helped exports, statistics bureau data showed on Wednesday (May 5). The outlook, however, is being clouded by continued Covid-19 infections, which are weighing heavily on household consumption, […]

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Indonesia’s economy seen contracting more slowly in Q1

JAKARTA: Indonesia’s economy is expected to have contracted more slowly on an annual basis in the first quarter of 2021 as higher consumer spending and investment helped underpin the economy’s recovery from the COVID-19 pandemic. Southeast Asia’s largest economy is expected to have slumped 0.74% from a year ago during the January-March quarter, after a […]

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Indonesia to decrease budget deficit in 2022

JAKARTA: Indonesia plans to reduce its budget deficit next year to within a range of 4.51% to 4.85% of gross domestic product (GDP), from an estimated 5.7% this year, as part of its fiscal consolidation measures, a finance ministry official said yesterday. Febrio Kacaribu, who heads the ministry’s fiscal policy office, told a virtual seminar […]

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