Indonesian Chamber of Commerce and Industry Forecasts Positive National Economic Growth in 2021

The Indonesian Chamber of Commerce and Industry (Kadin Indonesia) has forecast that the domestic economy will see positive growth in 2021. This is in line with the Government of Indonesia’s projections for economic growth of 4.3%-5.5% in 2021, much higher than the 2% contraction witnessed in 2020. This forecast is based on an increase in multiple indicators such as the manufacturing and retail sales indices, cement and electricity consumption, and imports of raw materials and capital goods.

Why it Matters?

The Government as introduced a range of policies (including  relaxation incentives on luxury tax (PPnBM) for Motorized Vehicles (KB) and the Value Added Tax or VAT (DTP) for Landed Houses and Flats in the property sector being borne by the Gov...