Finance Minister, Sri Mulyani, is optimistic that economic growth in the third quarter will reach the range of 4%-5%. Economic activity has resumed, driven by the gradual easing of the Implementation of Community Activity Restrictions (PPKM) since last month. Optimism
Based on OJK data, in 2019, there were 164 registered fintech lenders. The number fell to 152 at the end of last year. As of September, the number of fintech lending was at 107. Head of the OJK Non-Bank Financial
OJK noted that the total disbursement of loans restructured by banks in July 2021, showed a drop to US$ 54.6 billion (IDR 778.9 trillion). However, they highlighted the risk of non-performing loans (NPLs) in the banking sector. The July NPL
The Financial Services Authority (OJK) reported that the realization of bank credit in July slowed down, despite its 0.5% year-on-year growth. OJK chairman, Wimboh Santoso, mentioned that the private commercial banks’ lending is contracting at 2.62% year-on-year, and 4.5% year-to-date.
The government has increased the budget for the People’s Business Credit (KUR) program this year from US$17.5 billion (IDR 253 trillion) to US$20 billion (IDR 285 trillion). Coordinating Minister for Economic Affairs, Airlangga Hartarto, mentioned that the decision was part
The emergency level 4 Community Activity Restrictions (PPKM), or lockdowns, in most areas of Java and Bali, have slowed down domestic consumption in July. Finance Minister, Sri Mulyani, shared that in August, this was reversed, following the ease of the
OJK requires the banking industry to implement a climate-resistance risk management strategy. This regulation requirement is part of OJK’s commitment to a sustainable economy, and to encourage capital flow to sustainable public investment, private investment, infrastructure development, human resource development.
Indonesia’s GDP growth is targeted at 5- 5.5% in the draft State Budget 2022 (“RAPBN”). Venture investors remain optimistic for Indonesia’s startup ecosystem, provided there are signs of economic recovery in the short term. With a typical investment period of
The Financial System Stability Committee (“KSSK”) shared that from April to June, Indonesia’s financial system had shown economic recovery and stability. However in Q3, since the implementation of lockdowns (“PPKM”) due to the rising Covid-19 cases, the progress has halted.
Digital credit platform Kredivo plans to go public at a valuation of US$ 2.5 billion, IDR 36.25 trillion, on the NASDAQ stock exchange next year via SPAC, a special purpose acquisition company. Kredivo distributes instant credit for consumer purchases on
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