TheJakartaPost
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Ministers representing various portfolios from finance to labor and small businesses and the environment joined the briefing, each of them speaking from behind their masks as concern rose among the public about the implications of the law, passed on Monday by the House of Representatives.
Retail sales in Southeast Asia’s largest economy fell 12.3 percent in July from a year earlier, a smaller drop than the previous month's 17.1 percent contraction, a Bank Indonesia (BI) survey found on Wednesday.
Bank Indonesia (BI) is projected to cut its benchmark interest rate by 25 basis points later this year to support the Indonesian economy against the coronavirus pandemic impact, backed by sufficient foreign exchange reserves, Fitch Solutions says.
Bank Indonesia’s (BI) policy measures and a narrowing current account deficit (CAD) will likely support the rupiah amid unfavorable financial market conditions, however risks remain as Indonesia continues to record new COVID-19 cases while facing limited healthcare capacity, experts warn.
Consumer spending, which accounts for more than a half of the country’s GDP, grew by just 2.84 percent year-on-year (yoy) in the first quarter, a far cry from 5.01 percent growth recorded in the same period last year.
