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Economy and Finance

Economy and Finance

Jokowi Asks PPATK to Anticipate Shadow Economy

JAKARTA - President Jokowi asked the Financial Transaction Reports and Analysis Center (PPATK) to mitigate illegal underground economic activities (shadow economy) to cybercrime that destroys financial system stability. "We must mitigate conditions that disrupt the integrity and stability of the economic system. And the financial systems, such as the shadow economy, increase in economic crime. As well as cybercrime and other crimes that utilize the latest technology," the President said in a virtual manner in Jakarta, Thursday (14/1 ). This was conveyed by the President in the Annual Coordination. And Direction of the President of the Republic of Indonesia regarding the Prevention and Eradication of Money Laundering (TPPU). And Terrorism Funding (TPPT) in 2021. In addition to anticipa...
Economy and Finance

Indonesia Expects Balanced Trade with China

JAKARTA - Indonesian Foreign Minister Retno Marsudi conveyed the importance of seeking an increased and more balanced trade with China, during a meeting with Chinese Foreign Minister Wang Yi. "In this regard, I welcome the increase in Indonesia's exports to China last year by more than 10 percent. At a time when the global economy is facing severe shocks due to the pandemic," said Retno during a joint press statement with Wang Yi in Jakarta, Wednesday (13 / 1). In addition, Foreign Minister Retno also underlined the need to overcome trade barriers. Especially those concerning market access for exports of Indonesia's superior products to China. Such as fishery products, tropical fruit, bird's nest, and oil palm. The trade balance deficit between Indonesia and China during the January-N...
Economy and Finance

Tightening PSBB, Potentially Negative Economy

JAKARTA - Indonesia's Center of Reform on Economics (CORE) economist Yusuf Rendy Manilet said that the tightening of social restrictions imposed by the government next week will have a significant impact on the economy. This policy even has the opportunity to drive economic growth at a negative level, especially in the first quarter. This potential is even higher if the approach taken by the government in making several policies. Is relatively the same as the previous implementation of Large-Scale Social Restrictions (PSBB). "Where are there still local residents who are not discipline in implementing health protocols," said Yusuf when contact Thursday (7/1). PSBB Is Forced To Be Done If You Don't Want Covid-19 Cases To Increase On the other hand, Yusuf added, PSBB must be carried...
Economy and Finance

Fast-growing, e-commerce Indonesia top in Southeast Asia

JAKARTA - The research team of Bank DBS Indonesia conducted a survey "Indonesia Consumption Basket" to more than 500 respondents in Java, including Jakarta and a small part outside Java. The survey results found that subscribers e-commerce in Indonesia rose to 66 percent after the pandemic. This increase is the impact of the implementation of Large-Scale Social Restrictions (PSBB). As of 2019, as many as 90 percent of Indonesian internet users have made purchases in e-commerce. "This fact makes Indonesia rank one in Southeast Asia asuser thee-commerce largest," he said in a press statement, Thursday (31/12). Still based on the results of the same survey,activities online shopping increased by 14 percent. Meanwhile, shopping in shopping centers has dropped significantly by 24 percent s...
Economy and Finance

Electric Car, Erick Will Explore Collaboration with Tesla

JAKARTA - BUMN Minister Erick Thohir will explore cooperation with Tesla electric car in February regarding the development of the industry electric car in Indonesia. "InsyaAllah, in February, I will open talks with Tesla to develop this cooperation," said Erick Thohir in a written statement received in Jakarta, Saturday (2/1). The BUMN Minister has also ordered PLN to improve services to the public and change its business strategy post-pandemic. "Thank God, PLN had on-track and has joined the consortium of SOEs to manufacture EV battery cooperate. With companies from Korea and China," he said. In addition to anticipating electric cars, Erick also wants PLN actively developing electric stove. This is in order solutions reduce imports of fuel. There are a number of reasons why Indonesi...
Economy and Finance

Regarding the 5G network, Indonesia can imitate the Singapore method

Jakarta - The government Indonesia should consider applying a partnership scheme for the use of frequency spectrum 5G for telecommunications operators that Singapore implements. According to the Director of the Policy Reform House, Riant Nugroho. The allocation of the 5G frequency spectrum must be in the form of a wideband. Close to 100 MHz for one operator. Meanwhile, telecommunication operators who are allocat the technology frequency spectrum as fast as a bullet are those. Who really have the ability to deploy 5G infrastructure. He said, the consequence is that of course only one or a few operators will receive the frequency spectrum allocation for technology as fast as this bullet. Meanwhile, other telecommunication operators that do not receive an allocation can cooperate wholesal...
Economy and Finance

Hugaf Supports UMKM to Revive in the Pandemic Era

JAKARTA - Towards the end of the year, the Covid-19 pandemic is still ongoing in Indonesia. Apart from the health crisis, Covid-19 also led this country to an economic recession which resulted in many business actors experiencing losses. The government has made various efforts to save the economy, where Micro, Small and Medium Enterprises (UMKM) are the priority. As is known, more than 99 percent of businesses in Indonesia come from UMKM. At present, UMKM are challenged to withstand various pressures and adapt to all conditions including uncertainty regarding the duration of the pandemic. UMKM is also expect to be able to make this crisis a place to forge themselves. One of them is by increasing business knowledge so that it can survive a pandemic. In the midst of a pandemic, UMKM, es...
Economy and Finance

BPH Migas Appoints Bakrie Brothers to Build Cisem Pipes

JAKARTA - BPH Migas admits that it has finished conducting a study on the Cirebon Semarang (Cisem) project which was delayed yesterday. From the results of the study, BPH Migas decided to hand over the project to PT Bakrie and Brothers as the second winner of the project. The Head of BPH Migas, Fanshurullah Asa. Explained that the committee BPH Migas agreed on the option of giving opportunities. To the second or third auction winner in accordance with the current BPH Migas Regulation. Furthermore, BPH Migas can carry out a re-auction option or an assignment option in accordance with Article 46 paragraph (3) of Law No. 22 of 2001 concerning Oil and Gas and its implementing laws and regulations. In the event that an assignment is carry out by the Minister of EMR, it is necessary to consid...
Economy and Finance

The Indonesian bond market is predicted to grow positively in 2021

JAKARTA - The Indonesian market bond expected to grow positively in 2021. The performance of bonds next year is in line with economic recovery. Which has started to improve since the second semester of 2020. Director & Chief Investment Officer, Fixed Income Manulife Aset Manajemen Indonesia, Ezra Nazula, explained that accommodative monetary and fiscal policies will be the main sentiment in the 2021 market. "These policies need to support the economic recovery process," Ezra said in an official statement, Monday (21/12). In addition, growth in the bond market 2021. It Will also be supported by the return of foreign capital flows to emerging markets. Foreign investors are looking for yields or potential growth in developing country financial assets amid low inflation and global cent...
The Role of Fintech in Promoting 2020-2024 Inclusion Index in Indonesia
Economy and Finance

The Role of Fintech in Promoting 2020-2024 Inclusion Index in Indonesia

JAKARTA - In the national financial inclusion strategy which was passed by President Indonesia Joko Widodo on 7 December. Targeting Indonesia's inclusion index to increase by 90 percent by 2024. In realizing this, financial technology peer to peer lending or Fintech funding has a role as the main driver to accelerate the transformation of the digital economy, especially the MSME sector. Deputy for the Coordination of Macroeconomics and Finance, Coordinating Ministry for Economic Affairs, Iskandar Simorangkir. Said Indonesia needed digital economic transformation through fintech to restore the national economy. "The focus of financial inclusion is not on the saving movement. But on providing capital to the informal MSEs sector and the fastest way by digitizing them. With digital transform...