Indonesia's economy is likely to begin recovering in the last quarter of 2020 before the growth accelerates in 2021 with an expected expansion of between 4.5 and 5.5 percent, according to Indonesian Finance Minister Sri Mulyani Indrawati.
Finance Minister Sri Mulyani Indrawati. (Photo: //www.nst.com.my/)
Jakarta (VNA) – Indonesia's economy is likely to begin recoveringin the last quarter of 2020 before the growth accelerates in2021 with an expected expansion of between 4.5 and 5.5 percent, according to IndonesianFinance Minister Sri Mulyani Indrawati.
Due to the COVID-19's impacts, the country's economy would be under extreme pressure inthe second and third quarters of 2020 when it would likely grow by minus 2percent, the minister said.
Thegovernment will focus efforts on raising the resilience of businesses andattracting investors to put their capital in Indonesia, according to the minister.
Indonesiawould also join hands with other countries in efforts to deal with the economicmeltdown due to the disease that has been spreading worldwide.
To help the government contain the national economic slowdown, thecentral bank, Bank Indonesia, has taken several measures including trying to maintain its foreign exchange reserves which are expected to be used forintervention in the financial market so as to prevent the rupiah from devaluating during this difficult time.
For the time being, only manufacturing industry receives taxincentives, but the government will give the same treatment to 11 moreindustries including transportation, hotel business andtrade.
The Indonesian currency was up by 1.12 percent to15,465 per one USD on April 17, compared to 15,640 rupiah against the greenback on the previous day./.
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Indonesian Minister of Tourism and Creative Economy Wishnutama Kusubandio has revised down the number of foreign tourists to Indonesia in 2020 from 16 million to 5 million amid the spread of COVID-19.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
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Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Finance Minister Sri Mulyani Indrawati. (Photo: //www.nst.com.my/) 
