Indonesia’s economy could contract between 4-4.8 percent in the second quarter of 2020, said Bank Indonesia (BI)’s senior deputy governor Destry Damayanti.
Hanoi (VNA) - Indonesia’s economy couldcontract between 4-4.8 percent in the second quarter of 2020, said BankIndonesia (BI)’s senior deputy governor Destry Damayanti.
The official noted the recovery would be slowerthan expected as COVID-19 cases continue to rise around the country.
Indonesia’s recorded number of COVID-19 casessurpassed China’s official tally on July 18 before the country logged itshighest daily death toll on July 19.
Destry said fears of a prolonged global economicdownturn had also put pressure on emerging market assets, hitting the country’srupiah exchange rate as investors steered away from high-risk assets in favourof safe-haven assets.
Indonesia’s central bank cut its benchmarkinterest rate for the fourth time this year to 4 percent last week to bolsterthe economy and reasserted its commitment to a bond-buying programme worth 40billion USD to rescue the economy and reduce the government’s debt burden.
Meanwhile, the Indonesian Government hasallocated 695.2 trillion Rp (47.35 billion USD) to spur the economy. Itexpected the budget deficit to reach 6.34 percent and the economy to shrink 0.4percent this year under a worst-case scenario or grow 1 percent in a best-casescenario./.
The Indonesian government has prepared a credit package worth up to 4.2 trillion rupiah (about 285 million USD) to support micro, small and medium-sized enterprises (MSMEs) to resume production amid the complicated developments of COVID-19, according to Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Panjaitan.
Indonesian President Joko Widodo officially disbanded 18 state institutions on July 20 in a bid to better control budget spending and facilitate operations of other ministries and sectors.
Indonesia and the United Kingdom (UK) agreed to complete the Joint Trade Review (JTR) this December to improve the economic relations between the two countries, an Indonesian official said on July 21.
The food and beverage, and basic metal industries continued to make the largest contribution to Indonesia's exports in the manufacturing sector, with 13.73 billion USD and 10.87 billion USD worth of exports, respectively, during the first half of 2020.
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.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
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.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
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.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
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.
A corner of Jakarta (Souce: lastminute.com) 
