This Week’s Headline (4 - 10 Feb 2023)
10 Feb 2023
Indonesia’s GDP growth reaches nine-year high
Indonesia’s economy grew last year at the fastest pace since 2013, marking the highest economic
The country’s gross domestic product (GDP) rose by 5.31 percent in 2022, handily beating the
Economic output in the fourth quarter of last year increased by 5.01 percent from the equivalent
The statistics agency attributed the slowdown to weaker purchasing power as a result of increased i
“Indonesia experienced solid economic growth in 2022,” BPS head Margo Yuwono told reporters
The World Bank and the International Monetary Fund had expected Indonesia’s 2022 GDP growth
Household spending, long the backbone of the domestic economy, remains the main source of
Looser COVID-19 pandemic restrictions paved the way for more people to enjoy transportation
Bank Indonesia (BI) has been raising its key interest rate since August last year to contain
As of January, the central bank had raised its benchmark seven-day reverse repo rate by a total of
But even in the face of repeated hikes, the manufacturing purchasing managers index (PMI)
At BI’s latest monthly monetary policy meeting, held last month, Governor Perry Warjiyo described
Asked to comment on the latest GDP data, Bank Mandiri chief economist Andry Asmoro told The
Incentives by the government to boost capital injections, regulatory reforms and massive
At that rate, however, GFCF growth is a far cry from the pre-pandemic level, with Margo noting
Realized investment, excluding micro, small and medium enterprises (MSMEs), the financial
As the government resumed work on its national strategic projects, GFCF was expected to lean
“This is backed up by the higher budget [allocation] for infrastructure in the 2023 state budget,”
Net exports of goods and services contributed 0.81 ppt to the overall growth figure for 2022.
Growing 16.28 percent in the course of last year, exports outpaced imports, which rose 14.75
Exports were driven by strong growth in the shipment of coal, metals and vehicles.
Although the exports windfall might persist in the coming months, its effect is expected to fade as
CPO prices in December were down 25 percent from a year earlier, according to World Bank data.
CPO accounted for around 12 percent of the $291.98 billion worth of Indonesian exports last year.
“The trade surplus will narrow on the back of rising import prices and lower commodity prices,”
President Jokowi said on Monday that Indonesia had returned to the upper-middle income status,
“I hope we can make a great leap forward,” Jokowi said.
Source: The Jakarta Post
Indonesia drafts law enabling media to receive payments from digital
Indonesia is drafting a regulation allowing media outlets to receive payments from digital platforms
The new law is expected to level the playing field between media and tech firms in terms of
The law, proposed two years ago, was inspired by similar legislation in Germany and Australia,
Digital platforms in Indonesia include Facebook, Alphabet Inc's <GOOGL.O) Google, and some
Arif said these platforms benefit from carrying content generated by media companies while "most
"(There is) no balance in this," he said.
Under the new law, the Press Council will determine price structures and payments schemes,
In Australia, the News Media Bargaining Code took effect in March, 2021. Since then, tech firms
These agreements have enabled news businesses to employ additional journalists and make
Speaking at an event commemorating Indonesian press on Thursday, President Joko Widodo
"Around 60% of advertisement spending were taken by digital media, especially foreign platforms.
ASEAN Countries in Talks for Regional EV Ecosystem
ASEAN member states are in talks for a regional ecosystem of electric vehicles as chair Indonesia
“This is about how we can set up a regional [EV] ecosystem that adopts the same or at least
“We [ASEAN] have begun talking about it for the past year or so. We share a common
According to Sidharto, Indonesia has a comparative advantage -- or even possibly a competitive
“Today’s EV producers -- be it China, South Korea, or the US -- vary in standards. But what if
Almost a quarter of ASEAN countries’ foreign trade takes place within the Southeast Asian region.
This was not the first time that Indonesia mentioned its plans of pushing for a regional EV
Last week, ASEAN foreign ministers gathered at the bloc’s secretariat in Jakarta for the first round
“Indonesia will propose an outcome that will attain the ASEAN region as the epicenter of growth.
President Joko “Jokowi” Widodo last year even invited Japan to also build the EV ecosystem in
“I invite Japan to boost investment, particularly in the manufacture of EVs and battery production,”
Indonesia has been keen on developing its EV ecosystem, aiming to produce 600,000 electric cars and 2.45 million electric two-wheelers by 2030. The government is also planning on giving
Source: Jakarta Globe