Dear Readers,

Money talks... It’s a rather sensitive topic to discuss out loud but the world is going through an economic downturn. Businesses are closing, layoffs are happening, salaries are being cut – everyone’s going through something with their finances.

World Bank Chief Economist for East Asia and the Pacific, Aaditya Mattoo has said the coronavirus is having a heavy impact, namely disrupting investments, human resources, and productivity in Asia Pacific countries, including Indonesia. According to him, economic contraction can be seen in various sectors.

Aaditya assessed that Indonesia still has a chance to recover with potential growth of 4.4 percent in 2021, and 3 percent in a worst-case scenario. The government should make various efforts to curb economic contraction, including increasing stimuli in the business world. According to the World Bank, the current stimulus is only positively impacting less than 10 percent of business operators in Indonesia.

Let Indonesia Expat guide you in this Money and Finance issue with insights on building a business as a foreigner in Indonesia, economic recession, possible recession benefits, history, making money at home, what Rp1 million can get you, and financial plans. We’re all in the blur of the Indonesian economy’s foreseeable future. Bookmark these stories for your aid in the coming months.

Don’t forget to check out our daily news updates at indonesiaexpat.biz. Follow our Instagram and Facebook accounts @indonesiaexpat to stay updated on the daily COVID-19 case numbers and news, as well as attractive promotions from your favourite hotels, restaurants, and schools.

Happy reading!