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Economy and Finance

Economy and Finance, World

Indonesia exports to China grow by 10 percent in 2020

BEIJING - Indonesia exports to China in 2020 have increased compared to Indonesia's exports in the previous year. China has also expressed interest in investing in the renewable energy sector. The increase in Indonesian exports is reflected in the sharp decline in Indonesia deficit against China during 2020 compared to 2019. Data released by Chinese Customs states that the total value of Indonesia's trade with China in 2020. Will reach 78.5 billion US dollars (US). Based on the total trade value, the value of Indonesia exports to China reached 37.4 billion US dollars. Growing 10.10 percent compared to the total value of Indonesian exports to China in 2019. Meanwhile, the value of Indonesia's imports from China in 2020 reached approximately 41 billion US dollars, decreased by 10.13 per...
Economy and Finance

Economy Indonesia Has Strong Capital to Recover This Year

JAKARTA - Head of Fiscal Policy Agency of the Ministry of Finance (BKF Kemenkeu) Febrio Kacaribu said the Indonesia economy has strong capital to recover this year. This projection reflects on the budget deficit, the ratio of public debt. And various other economic indicators that have shown improvement. Febrio said that the contraction growth in Indonesia economy had shown an improving trend. The contraction in the third quarter improved compare to the previous quarter which is expect to occur again in the last quarter of 2020. "This could be our capital to enter 2021, have the optimism to manage our economy together," he said in the AcceleratedWebinar Economic Recovery on Tuesday (26/1). One of the indicators mentioned by Febrio was the state budget deficit. He added, in the context...
Economy and Finance

Jokowi Claims Indonesia Can Control Two Crises

JAKARTA  - President Joko Widodo (Jokowi) said that Indonesia will experience various ordeals when entering 2021. Jokowi's opinion was conveyed by Jokowi when he gave a virtual speech at the opening of the Complete Workers Council for the Fellowship of Churches in Indonesia (MPL- PGI) in Jakarta, Monday (25/1). "Throughout 2020 and entering 2021, we face several tests, some very tough trials, the Covid-19 pandemic that hit the world of 215 countries and Indonesia has resulted in a health crisis and an economic crisis," Jokowi said. can control these two crises well. "However, the problem has not been completely resolved. The pandemic is still ongoing and we are still alert and alert. A few days ago, South Kalimantan was hit by floods that hit several districts and cities, landslides...
Economy and Finance

Competing with Bitcoin, Ethereum Crypto Asset Prices Reach IDR 20 Million

JAKARTA - crypto assets Ethereum experienced a very significant price increase in early 2021. It was note that the Ethereum price broke the highest level of IDR 20 million per unit, same as Bitcoin. Since its launch in 2015, Ethereum is trading at a price of less than IDR 40 thousand per unit. Ethereum's price increased more than 10 times in one year. For the record, in early 2020, Ethereum was selling for IDR 1.8 million. Then the price continued to rise and finally broke the record Rp. 20 million. Ethereum is the crypto-asset most popular with the market cap second largest in the world after Bitcoin. Indodax CEO Oscar Darmawan said the significant increase in Ethereum price occurred. Because the crypto asset was upgrading to Ethereum 2.0. The evolution phase to Ethereum 2.0 has star...
Economy and Finance

Sri Mulyani Asks for Fixed Road Infrastructure Development

JAKARTA - Finance Minister Sri Mulyani Indrawati has asked the government to continue to carry out various infrastructure development programs amid the Covid-19 pandemic. The development starts from education to health. "In the atmosphere of Covid-19, we have not forgotten development activities. We remain hopeful even in an atmosphere Covid-19 running the development program. "he said in Financing Policy Forum Infrastructure Project Through SBSN the Year 2021 in Jakarta, Wednesday (20/1). Sri Mulyani said that infrastructure development in the health sector has become very vital in the midst of a pandemic. Considering that it functions in dealing with this health crisis. "In the health sector, it is clear that many are not only handling in the midst of the Covid-19 pandemic. But also...
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...