VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

photo : bloomberg

Gross Domestic Products -GDP figures from the Bureau of Statistics show Australia's economy shrank 0.3 per cent in the March quarter amid bushfires and the early stages of the coronavirus pandemic. Economists widely define a recession as two consecutive quarters of GDP contraction, which are now certain to occur. The last time Australia recorded two consecutive negative quarters for GDP: March and June in 1991, dubbed by then treasurer Paul Keating as "The recession we had to have". Even before, the full effect of the coronavirus hit, Australia's economy recorded its slowest annual growth in more than a decade, according to the ABS. During a press confrence in Canberraon Wednesday (03/06/20), The Australian Treasurer, Josh Frydenberg said thatthe economy would shrink even further next quarter, meaning Australia has entered a technical recession.

“…It was in this quarter — the March quarter — that consumer and business confidence fell to its lowest level on record. That the ASX 200 lost a third of its value and, on the 16th of March, saw its biggest daily fall of 9.7 per cent on record. When combined with the ongoing drought, which saw farm GDP fall by 2.4 per cent in the quarter, and the devastating impact of the fires that were raging across many states, one looks back on the March quarter, and there wasn't much good news.Seen in this context, the fact that the Australian economy only contracted by 0.3 per cent shows the Australian economy's remarkable resilience” Frydenberg said. 

Josh Frydenberg added that Australia's performance in the March quarter was very good compared to other countries with negative growth of 9.8 per cent in China, 5.3 per cent in France, 2.2 per cent in Germany, 2 per cent in the United Kingdom and 1.3 per cent in the United States. Although the economy fell, Australia enters this crisis moment from position of economic strength.

“…Today national account show once again that in the face of a one in a hundred year global pandemic the Australian economy has been remarkbly resilient. We entered this economic crisis and health crisis from the position of economic stregth. Growth was rising and unemployement had falling to 5,1 percent in february, 1,5 million new job was created and the badge was back in balance for the first time in 11 years. The streght gives us the fiscal fire power to respond as we have done" Frydenberg explain. 

The Australian Treasury is contemplating a fall in GDP of more than 20 per cent in the June quarter. This was the economists' version of Armageddon. Partly offsetting the falls were a rise in government spending, which added 0.3 percentage points to growth, and net trade, which contributed 0.5 percentage points as imports slumped while commodity exports held up reasonably well.(NK)

photo : bpom

The Indonesian Food and Drug Monitoring Agency (BPOM) has undertaken several efforts to ensure food safety amid the Covid-19 pandemic. As quoted by Antara News Agency, Director of Medium- and Low-Risk Processed Food Supervision at the BPOM, Emma Setyawati  during a press conference in Jakarta on Wednesday (3/6) stated that her side is striving to manage and handle the circulation of food. She wondered if the consumption is available, the people remain safe. She also remarked that the BPOM had a downloadable guidebook in the form of e-books covering aspects right from production to the safe distribution of processed foods that can serve as a guideline for the wider community. In the guidebook, health protocols were added for safe processing and distribution of food to be followed by the community//ANT

photo : setkab

The  Indonesian economic recovery  during the Covid-19 pandemic continuously becomes  a concern of the Indonesian government.  President Joko Widodo has ordered his aides to immediately form a national economic recovery scheme affected by the pandemic. In a Limited Cabinet Meeting at the State Palace in Jakarta  on Wednesday (03/6 ), President Joko Widodo approved to have received reports  of various steps to handle the pandemic and economic recovery that give  the consequence of additional spending which has implications for the increased state budget deficit. He reminded his ministers to precisely calculate  the  change plan of  the state budget posture.

“...Related to the 2020 State Budget Posture Changes, I got a report of various Covid-19 handling and economic strategic recovery that have additional consequences of the spending and which increase the implications of the state budget deficit. I asked the Coordinating Minister for Economic Affairs, Minister of Finance, Board of National Development Plan (Bappenas) to calculate more carefully, more details, more accurately towards various fiscal risks ahead. I want the pressure of the changes of the state budget to be carried out cautiously, transparently, and accountably so that the 2020 state budget can be maintained, trusted and it keeps being credible.” President said. 

Meanwhile  related to  the 2020 state budget posture changes, Minister of Finance Sri Mulyani Indrawati explained that the government will hold a number of steps according to President Joko Widodo's direction and input from the DPR RI Budget Board and the House of Representatives Commission XI. She also stated  that in the 2020 state budget changes, the government would take a number of changes and corrections to many things. Minister Sri Mulyani added that the government will make corrections to state revenues from Rp1, 760.9 trillion to Rp1, 699.1 trillion. (Ndy-Trans by AF)

photo : kemenkeu

Director General of Fiscal Balance at the Ministry of Finance, Astera Primanto Bhakti stated that there has been a substantial 15.81-percent decline in the income of Indonesia’s 530 regions due to Covid-19 pandemic. As quoted by Antara News Agency during an online discussion in Jakarta on Wednesday (3/6), Astera Primanto explainedthat the average income of 530 regions before the Covid-19 was Rp1,238.51 trillion, while currently, it is pegged at just Rp1,042.69 trillion, a difference of Rp195.82 trillion. So, the correction for income on average is indeed quite deep. Nationally, the regional income has fallen by 15.81 percent. Locally generated income (PAD) is the most depressed component of the revenue, which is down 27.73 percent due to a slowdown in economic activity that has had a direct impact on regional taxes and charges//ANT