Bank Indonesia (BI) noted the increase in digital banking transactions, as the consumer preference for online shopping and digital payment options rose.The total volume of digital banking transactions in April 2021 grew by 60.27% year-on-year to ~573 million transactions with
McKinsey, a global consulting firm, predicts Indonesia to become the seventh largest global economy by 2030. There are three areas for Indonesia to address to achieve this: to invest in long-term healthcare infrastructure, to modernise the agriculture sector with emphasis
BI has yet to announce the issue date for Central Bank Digital Currency (CBDC), but shared that it will involve a multi-year implementation plan. On-going evaluations are performed by BI to understand implications on the macro economy, monetary and fiscal
Bank Indonesia (BI) highlighted the 4.6% year-on-year growth in government external debt in January 2021. Erwin Haryono, Head of Communications at BI, shared that this growth is expected due to the increased government spending on Covid-19 pandemic recovery efforts. However,
During the pandemic, digital technology development in Indonesia has grown rapidly. Bank Indonesia commented that this is in line with the national plan to digitise payments and changing consumer preferences to use digital technology. E-commerce transactions are projected to increase
According to Bank Indonesia, Indonesia’s Sharia economy in 2020 shrank by 1.72% year-on-year, compared to the national economy which shrank by 2.07%. Despite the overall contraction in Indonesia’s Sharia economy, there were two priority sectors within the Halal value chain
The Chairman of OJK (Financial Services Authority), Wimbah Santoso, mentioned an improvement in credit growth, in line with the government’s strategy to promote a national economic recovery from the pandemic. The credit growth rate was at negative 1.92% as of
East Ventures, an Indonesian venture capital firm, and Katadata Insights Center launched the East Ventures Digital Competitiveness Index 2021 (EV-DCI 2021). The study shows the rise in digital competitiveness across Indonesian provinces, with two key drivers being equitable infrastructure development
The IMF formally complimented Indonesia after performing a policy assessment that included pandemic management, fiscal stimulus policies, monetary policies, easing macro and micro-prudential policies (stability of financial systems/institutions) and the central bank’s involvement in policy making. Head of Bank Indonesia
First, there is a need to recognise the impact of the Covid-19 pandemic and a sizable health budget to manage it. The government has prepared up to IDR ~172 trillion (US$12 billion) on healthcare, mainly in testing, tracing and treatment
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