JAKARTA Indonesia's efforts to support its economy through the coronavirus crisis were being hampered by the slow disbursement of a $50 billion stimulus plan, economists said.The World Bank and Indonesian government have warned that millions more people risk being plunged into poverty amid the pandemic, as data showed the economy shrank for the first time since 1999 in the second quarter.
JAKARTA Indonesia's economy had its first quarterly contraction in over two decades, official data showed on Wednesday, with the government promising faster stimulus spending in coming months after a battering from the coronavirus pandemic.
JAKARTA Indonesia is considering returning tax paid by companies to support them during the coronavirus pandemic, the country's deputy finance minister said on Friday, as the government seeks to retune parts of its economic stimulus.
JAKARTA Indonesian President Joko Widodo is considering issuing an emergency decree to return banking regulation to the central bank's remit, amid concern about how the COVID-19 pandemic is exposing strain in the financial sector, sources told Reuters.
JAKARTA Indonesia's central bank came under pressure from lawmakers on Thursday to escalate its response to the economic fallout from the coronavirus pandemic, even as it cut its benchmark interest rate to a two-year low.
JAKARTA Bank Central Asia (BCA) , Indonesia's largest bank by market value, may join a government programme to lend to banks to improve their liquidity, its president director told Reuters.
JAKARTA Indonesia plans to build one of its largest industrial parks on the north coast of Java island in a renewed drive to attract manufacturers relocating out of China as Southeast Asia's biggest economy comes out of a coronavirus-induced lockdown.Yet, despite its low wages and huge domestic market Indonesia must overcome decades-old hurdles including red tape, rigid labour laws, and poor infrastructure to be able to move up the global manufacturing value chain.
JAKARTA Indonesian trade unions on Friday called off a rally planned for next week after President Joko Widodo said he would postpone a parliamentary discussion on changes to labour rules.
JAKARTA, April 24 Indonesian trade unions on
Friday called off a rally planned for next week after President
Joko Widodo said he would postpone a parliamentary discussion on
changes to labour rules.
JAKARTA Indonesia will ban its traditional annual exodus by people streaming out of cities at the end of the Muslim fasting month of Ramadan, as the Southeast Asian nation looks to curb the spread of coronavirus, President Joko Widodo said on Tuesday.