Business News
Social assistance boosts household purchasing power
Statistics Indonesia has said an increase in social assistance from the government for low income families last year helped boost people's purchasing power, the main aspect in gross domestic product (GDP) growth. “It means that government cash transfers to low income households helped them buy or consume [goods],” BPS deputy…
Current account deficit recorded at 2.98 percent of GDP in 2018
Bank Indonesia has announced that the current account deficit increased to US$31.1 billion, 2.98 percent of gross domestic product (GDP), in 2018 from the previous year, which stood at $17.29 billion, 1.7 percent of GDP.“The current account deficit was still within safe limits, amounting to $31.1 billion or 2.98 percent…
Manufacturing sector to drive Indonesia's economy: Bappenas
The government believes the manufacturing sector will be the new engine of economic growth for Indonesia and will, therefore, focus on its development in the next five years. National Development Planning Agency (Bappenas) head Bambang Brodjonegoro said developing the manufacturing sector was vital to increasing Indonesia’s potential GDP growth and,…
Government pins hope on international study favoring palm oil
Research that calls into question claims that palm oil is environmentally damaging compared with other vegetable oils will boost the government’s efforts to defend one of the country’s major commodities from negative campaigning. The study was published in June by the International Union for Conservation of Nature (IUCN), a Switzerland-based…
