GDP of Indonesia to Act as Parameter in Design of State Budget 2023 Fiscal deficit of 2.81% to 2.95% of the GDP of Indonesia A fiscal deficit below 3% of the GDP of Indonesia will spearhead the design of its 2023 state budget. The fiscal deficit will range between 2.81% to 2.95% of the country’s…
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Indonesia Exports and Imports Soar in the First Quarter of 2022 Rising worldwide commodity prices push Indonesia exports to surge. Trade is surging and riding high in Indonesia as commodity prices continue to increase globally. This is due to the world transitioning towards a post-pandemic phase as well as the Russia-Ukraine war. As a result,…
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Increase in Indonesia VAT Rate to 11% Effective 1 April 2022 The Indonesian Government plans to increase the VAT rate in the country to 11% effective 1 April 2022. The increase is in accordance with the Harmonisation of Tax Regulations, Law Number 7. The 11% VAT rate increase is reflective of the Indonesian Government’s efforts to…
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More Destinations Enter the Quarantine-Free Indonesian Travel List Eligible travellers can enter Bintan and Batam without quarantine for more Indonesian travel. The islands of Bintan and Batam are opening their borders for foreign travellers to enjoy more Indonesian travel. Eligible visitors to these islands will not need to observe quarantine protocols. This new development adds…
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Creating Sustainable Futures by Advocating Women’s Empowerment By accelerating the progress of women’s empowerment, a better future awaits the world. From climate change to a global pandemic, humanity is facing extremely challenging times. There is an imperative need for appropriate strategies to bring about a sustainable future. Key amongst these is the need for policies…
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Indonesia’s Ministry of Finance Projects Positive Export Performance Moving Forward Indonesia’s Ministry of Finance anticipates that export performance will continue to grow. Export performance is expected to remain strong in the future, aided by high demand and prices. US$19.16 Billion Export Increase in 2022 Exports increased by 25.31 percent year on year (US$19.16 billion)…
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Labour-Intensive Projects Expected to Generate 350,104 New Jobs in Indonesia Indonesia’s Public Works and Public Housing Ministry estimates that the labour-intensive projects in the water resources sector will employ 350,104 people this year. Funding for the labour-intensive programme is expected to reach Rp4.35 trillion in 2022. Water Resources Sector Programme for 2022 The labour-intensive…
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The Indonesian Local Gaming Industry Gets Industry Ministry Support Indonesian local gaming industry content value chain to benefit from Industry Ministry backing. The Indonesian local gaming industry is aiming at becoming more globally competitive. To this end, it will continue to garner the support of the Republic of Indonesia’s Industry Ministry. The Ministry hopes to…
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Indonesian Annual Economic Growth Target Achievable by Mid-2021 A 7% Indonesian annual economic growth target is well within attainable scope. The second quarter of 2021 will see the Indonesian annual economic growth target reaching a predictive 7%. This is according to a recent statement from the Republic of Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan…
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An Eight-fold Growth Potential for Indonesia’s Digital Economy Forecasts indicate Indonesia’s digital economy may reach Rp4,531 trillion by 2030. The Republic of Indonesia’s Ministry of Trade is confident that Indonesia’s digital economy will achieve its tremendous potential for expansion. As more people adopt digitalization of their everyday activities, e-commerce and the digital economy will continue…
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