Business News
Government to boost spending to help economy grow in Q2
The government has pledged to boost spending in the second quarter to significantly boost gross domestic product (GDP) growth.Finance Minister Sri Mulyani Indrawati said on Thursday that in the first four months, government spending, which grew 11.8 percent year-on-year (yoy) to Rp 370 trillion (US$25.57 billion), was an important aspect…
BI projects 0.51 percent inflation in May
Bank Indonesia projects inflation at 0.51 percent in May, higher than the previous month, with year-on-year (yoy) inflation estimated at 3.14 percent.In April, the inflation rate was recorded at 0.44 percent.BI Governor Perry Warjiyo said the factors that pushed inflation up was mainly airfares, red chili and garlic, while deflationary…
Bank Indonesia to close from June 3 to 7
Bank Indonesia (BI) has announced it will not operate from June 3 to 7, when Muslims celebrate the Idul Fitri holiday, marked by the exodus of millions of people to their hometowns.In a statement published on its official website, BI said the decision was made in reference to a joint…
Retail sales expected to increase 30-40 percent ahead of holiday
The Association of Indonesian Retailers (Aprindo) is projecting that retailers will see a 30 to 40 percent increase in sales during Ramadan and Idil Fitri, supported by the inflation rate, which was less than 3 percent in the first quarter.“This [low inflation rate] will create confidence that prices will remain…
