Most companies and industries have been under huge pressure since the Indonesian government imposed a range of restrictions (specifically on people’s movement and business activities) in an effort to curb the further spread of the novel coronavirus (COVID-19). As most companies experience a massive decline in sales, it has become difficult for these companies to finance their operating costs and expenses. And, the longer the restrictions last, the bigger companies’ financial burdens become.
Update COVID-19 in Indonesia: 115,056 confirmed infections, 5,388 deaths (4 August 2020)
5 August 2020 (closed)
USD/IDR (14,647) +60.00 +0.41%
EUR/IDR (17,355) +42.63 +0.25%
Jakarta Composite Index (5,127.05) +52.02 +1.03%
The Today's Headlines section of Indonesia Investments is a daily updated section which contains the latest information with regard to topics that are currently causing headlines in Indonesia's media. Most of our headlines will cover political, economic and social matters. As a consequence of their recent nature, these topics may not have crystallized fully yet and can, therefore, lack a profound analysis. For publications with a more in-depth understanding of subjects, we refer you to our News, Financial or Business columns.
On Wednesday (03/06/2020) Indonesia Investments released the May 2020 edition of its monthly report. In this edition, titled 'in the Eye of the Storm', we focus specifically on the social implications of the novel coronavirus (COVID-19) crisis on Indonesian society. Hence, unemployment and poverty are two topics that deserve specific attention.
Last month we basically came to the conclusion that the novel coronavirus (COVID-19) crisis has a direct (short-term) positive effect on Indonesia’s trade performance (although the longer term consequences are clearly negative) as Indonesia managed to boost exports (possibly because it filled the gap left by China’s lockdown), while imports into Indonesia fell markedly (partly because of the lower need for inputs for export-oriented output), thus leading to a comfortable trade surplus.
For Muslims the holy fasting month (Ramadan) and subsequent Eid al-Fitr (Idul Fitri or Lebaran) festivities – the traditional week-long national holiday when Muslims celebrate the end of the Ramadan month – are very special and joyful times.