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COUNTRY INSIGHTS

Consolidation of the fiscal side
INDONESIA · Report · 01 Nov 2021

The Indonesian government is in a balancing act toward fiscal consolidation in the midst of its effort to further stimulate the economy. By law, the budget deficit should be set below 3% starting in 2023. So far, defying the skeptics, the outcome is encouraging, even though it might be deraile...

Groundbreaking for an EV battery plant
INDONESIA · Report · 29 Sep 2021

Indonesia has made an important step toward becoming a base for the production of electric vehicles (EVs). In 2020 Hyundai Motor started the construction of its automotive plant in Karawang, Indonesia, approximately 50 km east of Jakarta. Then in mid-September 2021, LG Chem jointly with Hyundai M...

A rebound, as expected
INDONESIA · Report · 30 Aug 2021

As expected, Indonesia has seen a rebound in its economic growth. In Q2 2021, the Indonesian economy reported an increase of 7.07% year over year. Compared to the previous quarter, the Indonesian economy grew by 3.31%. This is the first positive growth in the economy since the start of the Covid-...

The rise of Indonesian exports
INDONESIA · Report · 30 Jul 2021

Indonesia is in the midst of fighting the impact of the Covid-19 pandemic. The number of new infection cases increased exponentially in the last week of June and the early weeks of July 2021. At the same time the mortality rate was also very high. This situation was worse than the first semester ...

The first HPAL plant started commercial operations
INDONESIA · Report · 29 Jun 2021 · 1 response

Indonesia has enjoyed a number of commodities booms in the past few decades, from a sugar boom, to a rubber boom, and an oil boom, with the most recent the coal and CPO booms. Although the performance of crude palm oil and coal was very good, Indonesia is also enjoying the coming of the nickel bo...

The marriage of the two unicorns
INDONESIA · Report · 01 Jun 2021

Indonesia has seen an interesting story about the merger of two unicorns, Gojek, a ride-hailing start-up, and Tokopedia, a marketplace platform, both of which were "unicorns" before the merger. The merger of the two companies strengthens the technology companies to reach a possible valuation of s...

Mobility restrictions for the holiday
INDONESIA · Report · 30 Apr 2021

Indonesia is in the midst of the fasting month, the Ramadan. In the second week of May 2021, the holidays will start and they are usually full of celebrations, among families and in communities. Prior to the holidays, millions of people will go back to their hometowns and villages to see their pa...

All charged up and ready to go
INDONESIA · Report · 31 Mar 2021

Recently Credit Lyonnais Securities Asia published a report on the Indonesian electric vehicle industry that underscored its confidence in the Indonesian government's support for the industry, from nickel production for batteries to the prospects of Indonesia's becoming part of the global product...

Improvement in the economy
INDONESIA · Report · 01 Mar 2021

Indonesia has already seen a certain measure of improvement in the economy in the past quarters. While the country experienced a painful situation due to the restrained mobility from the pandemic, which led to a semi-lockdown in Q2 2020, Indonesia has continued to improve, slashing the negative g...

A longer-lasting trade surplus
INDONESIA · Report · 01 Feb 2021

Indonesia has enjoyed a number of commodities booms in the past few decades. These range from sugar, to rubber, to oil, with the most recent being the coal and CPO booms. These rapid periods of growth in commodities helped the trade balance and also increased the welfare of the people, which even...

Toward the age of the electric vehicle
INDONESIA · Report · 31 Dec 2020

As the year 2020 quickly approaches its end, Indonesia is weighing the prospects for the country’s economy for the near term, as well as for the medium and long term. For the near future, the fight against the pandemic continues, with the prospect of vaccination becoming the biggest hope. The fir...

A surplus in the current account
INDONESIA · Report · 30 Nov 2020

Indonesia has already seen the painful impact of the pandemic on its economic growth. For the first time since the Asian Crisis in 1998, when the economy declined by 14%, the Indonesian economy declined, by 5.32% in Q2 2020 after positive growth of 2.97% in Q1 2020. In Q3 2020, the Indonesian eco...

The state of the banking sector during the pandemic
INDONESIA · Report · 02 Nov 2020

The Indonesian economy has been impacted by the pandemic in the past few months. Various sectors of the economy, especially sectors related to people’s mobility, such as transportation, hotels and tourism, have, with some exceptions, been impacted the most. In addition, retail businesses and rest...

Recession—the beginning or the end?
INDONESIA · Report · 28 Sep 2020

What we have seen in the past few months clearly shows that Covid-19 has not only hit people's health, but also their welfare. Particularly in Indonesia, where the informal economy is large, the implementation of restrictions on mobility in various areas was a big blow to people's income. The aff...

Coping with negative growth
INDONESIA · Report · 31 Aug 2020

Indonesia has already seen the painful impact of the pandemic on its economic growth. For the first time since the Asian Crisis in 1998, when the economy declined by 14%, in Q2 2020, Indonesia's economy declined by 5.32%. In the four months since the official announcement of the first case of Cov...

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