Category Archives: Development

Indonesia’s economy remains strong amid global uncertainty

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The foundation of Indonesia’s economy remains strong in the face of global economic uncertainty that has caused the closure of banks in several countries, according to a finance official. “Our economic growth outlook is still very strong. In 2023, we expect economic growth to be in the range of between 5.0 to 5.3 percent annually,” Deputy Minister of Finance Suahasil Nazara said during the OCBC NISP Business Forum on Tuesday. Moreover, the Consumer Trust Index in February 2023 is still within the optimistic zone, or above 100, with a score of 122.4, which is a foundation for optimism toward economic … Continue reading →

80% of unfinished investment projects complete

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Investment Minister and Investment Coordinating Board (BKPM) head Bahlil Lahadalia has said that his party has completed 80 percent of unfinished investment projects worth Rp708 trillion (around US$45.7 billion) since his taking over as BPKM head in 2019. “Of the Rp708 trillion (around US$45.7 billion) in unfinished investments, we have completed more than 80 percent, including investments outside Java Island,” he informed at the “2023 Fortune Indonesia Summit” in Jakarta on Wednesday. The completion of unfinished investments was one of the directives the minister received from President Joko Widodo when he took over as BKPM head. He was also tasked … Continue reading →

Indonesia Strengthens Digital Economic Cooperation with Singapore

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Jakarta (ANTARA) – Coordinating Economic Affairs Minister Airlangga Hartarto has met with Senior Minister and Coordinating Minister for National Security of Singapore, Teo Chee Hean, in Jakarta to discuss strengthening digital economic cooperation between the two countries. Indonesia and Singapore agreed to strengthen cooperation in the digital economy, especially for the development of human resources, through the Tech Talents Program. Hartarto said that development of the quality of human resources is a supporting factor in increasing a country’s competitive capabilities. “The Tech Talents program that is being discussed by the two countries can be developed for mutual benefit for young … Continue reading →

Export-Import Positive, RI Trade Balance January 2023 Surplus Nearly IDR 4 Billion Dollars

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Indonesia’s export-import sector is still showing quite good growth by maintaining a surplus for 33 consecutive months. In January 2023, the trade balance recorded a surplus of IDR 3.87 billion US dollars. Import performance was reported to have grown by 1.27 percent yoy with a total of IDR 18.44 billion US dollars. Among these incomes, consumer goods contributed a positive growth of 1.09 percent yoy, then capital goods 5.66 percent yoy, and auxiliary raw materials 0.41 percent yoy. Commodities that dominated imports during this period included machinery, electrical equipment and their parts, and other main commodities. The United States, the Philippines and … Continue reading →

Confident of West Java’s positive economic growth in 2023: Bank Indonesia

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Bandung, West Java (ANTARA) – Bank Indonesia (BI) stated that it is optimistic that West Java will record positive economic growth this year on the back of improving household consumption, investment, and financial sector performance. This optimism is based on the province’s economic growth in 2022, which showed a positive growth of 5.45 percent and exceeded national economic growth of 5.31 percent, head of BI’s West Java Representative Office, Erwin Gunawan Hutapea, informed. “That West Java’s economic growth is supported by positive performance of household consumption owing to relaxed restrictions on community activities, supported by export and investment performance,” he … Continue reading →

Expect inflation decline, improved recovery in second half: Minister

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A decline in inflation, a stable and cheaper price trend, and improved recovery are expected in the second half of this year, Finance Minister Sri Mulyani Indrawati has said. “This sparks new hope that in 2023, at least in the second half, we will see a much more positive combination of reduced inflation and better recovery,” the minister said at the “Mandiri Investment Forum 2023” here on Wednesday. This would be the result of easing of pressure factors stemming from policy response, such as monetary restrictions and a decline in the ever-growing interest rate imposed by monetary authorities. Some countries … Continue reading →

This year Indonesia is hosting 9 world-class events, what are they?

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The successful holding of last year’s G20 Summit in Bali succeeded in enhancing Indonesia’s image in the eyes of the world. Many appreciations came from officials and foreign media. Likewise with the WSBK and Moto GP 2022 events at the Mandalika Circuit. This year, Indonesia has again received the mandate to host various prestigious international level events, ranging from world-class championships to conferences throughout Southeast Asia. There are at least 9 events that have been confirmed to be held in Indonesia throughout 2023. The following is a summary. F1 Superboats Lake Toba, North Sumatra, is getting ready to host a super fast … Continue reading →

Goldman Sachs: In 2075, Indonesia will become the world’s largest economic country, overtaking Japan

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Goldman Sachs, a multinational investment bank and financial services company headquartered in New York, has been known for the last two decades to provide long-term growth forecasts for countries in the world. Now the Goldman Sachs economists led by Jan Hatzius have expanded their projections to 104 countries in the world half a century from now. They projected several points about the world economy in 2075. One of the points is quite surprising, especially for Indonesia. Here are some of their projections: Global economic growth is predicted to average below 3% per year, down from the projected 3.6% in the decade before the … Continue reading →

List of 13 Unicorns in Indonesia. Anything About?

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Even though there are currently many waves of Termination of Employment (PHK), the development of startup companies in Indonesia is still showing an increase. Not a few of these companies have entered unicorn status , aka startups , with a valuation of US$ 1 billion (Rp 14.3 trillion). Then, what are the unicorn startups ? 1. Gojek You could say that Gojek is the first Indonesian startup to achieve unicorn status. This startup , which has been established since 2010, has received support from various large companies, from Telkomsel to Amazon and Google. Currently, Gojek has become a public company and has merged with another unicorn , Tokopedia. 2. Tokopedia Founded one year earlier than Gojek, Tokopedia experienced … Continue reading →

Indonesia Pays Attention To Green Economy

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THE National economy crippled by the Covid-19 has left very little room for the government to maneuver as the country slowly sank into recession. Like in many other countries, the government will focus the next year’s development agenda on economic recovery. Suharso, 65, said the pandemic had not only claimed lives but also cost 2.67 million people their jobs. “We’re currently focusing on managing the pandemic and providing social buffers for the poor,” said Suharso Monoarfa, the national development planning minister as well as chief of the National Planning Agency (Bappenas), during a special interview with Tempo on December 2 and 3. As the public’s … Continue reading →