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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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Minister: Indonesia now world’s largest biodiesel producer

Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto said on April 26 that India is now the world’s largest biodiesel producer with a daily output of 137,000 barrels, much higher than the US with 112,000 barrels, Brazil 99,000 barrels and Germany 62,000 barrels. Jakarta (VNA) – Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto said on April […]

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Indonesia futures regulator mulls crypto transaction tax

Indonesia’s Commodity Futures Trade Regulatory Agency (Bappebti) is considering a plan to tax cryptocurrency transactions amid rising public interest in the digital asset, especially in the past year. According to the agency, which falls under the trade ministry, the government is expected to impose a type of final income tax (PPh Final) on transactions using […]

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Indonesia’s FDI inflows up in Q1

JAKARTA: Foreign direct investment (FDI) into Indonesia rose 14% in rupiah terms in the first three months of 2021 on the year, data from investment board BKPM showed on Monday. FDI stood at 111.7 trillion rupiah ($7.72 billion) for the period from January to March, it added. Including domestic investment, total direct investment in the […]

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