Indonesia's inflation rate in December 2020 was clocked at 0.45 percent and 1.68 percent all through 2020, according to the Central Statistics Agency (BPS).
Jakarta (VNA) - Indonesia's inflation rate in December 2020 wasclocked at 0.45 percent and 1.68 percent all through 2020, according to theCentral Statistics Agency (BPS).
The figure is the lowest full year number in history and below Bank Indonesia’s(BI) target range of 2 to 4 percent last year.
Annual core inflation, which excludes volatile food and government administeredprices, fell for nine consecutive months last year up to December to 1.6percent, a level unseen since the BPS began recording the indicator in 2004,signaling weakening demand and purchasing power.
Weak demand is feared to slow business and manufacturing activity while posinga risk to the entire economy.
Economists expect inflation to hike to near 3 percent and within the centralbank’s target range in 2021 as economic activity and consumer demand recover.
However, inflation was likely to remain low in the first quarter of the yearamid limited social mobility, Bank Danamon economist Wisnu Wardana said,projecting that prices would start to pick up in the second half of 2021 drivenby domestic and global economic recovery as well as increased money supply fromthe stimulus rolled out by the government and the central bank.
According to the latest economic outlook from Oxford Economics commissioned bythe Institute of Chartered Accountants in England and Wales (ICAEW), Indonesia’seconomic growth is expected to rebound this year after it fell in 2020 into itsfirst recession since the 1998 Asian financial crisis, but the coronaviruspandemic will continue to dampen economic activities.
The country’s gross domestic product (GDP) is forecast to shrink 2.2 percent in2020 and rebound to 6.0 percent growth in 2021, driven by increases in consumerand infrastructure spending./.
Indonesia on January 3 started nationwide distribution of the COVID-19 vaccine that was developed by Chinese firm Sinovac Biotech and mass inoculations are scheduled to begin later this month.
Given the surging number of COVID-19 cases in Indonesia, local authorities have continued its cash aid programme and issued a plan to increase the number of hospital beds by up to 30 percent.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Illustrative image (Source: Xinhua/VNA) 
