JAKARTA (TheInsiderStories) - Good Morning! The latest Indonesian GDP in the first quarter of 2021 will be announced today by the statistics bureau. Some economists sees the economic growth of the country still contracted 0.74 to 1 percent in the first three months of this year, better than the 4th quarter of 2021 at minus 2.19 percent.
In his speech at the national development planning event in the State Palace, President Joko Widodo, said that the government will focus on economic recovery and structural reform in 2022. To that, he requested state officials to fast-track the government spending and also asked them to boost public spending.
At the same day, the COVID-19 task force spokesperson, Wiku Adisasmito, announced that the team has detected at least 13 cases of infection from the new B.1.1.7 virus variant from India in Indonesia. Until Tuesday, total infection rates recorded 1.68 millions with total death toll 46,137 and has been vaccinated around 12.67 million.
From the United States (US), President Joe Biden, announced his goal to vaccinate 70 percent of adults with at least one COVID-19 shot. He also said the government would inoculate 12- to 15-year-olds as soon as allowed. His new goal includes having 160 million adults fully vaccinated by the Fourth of July.
Now, 105 million Americans are fully vaccinated and more than 56 percent of adults, or 147 million people, have received at least one shot. While, the secretary of treasury, Janet Yellen, shouted that interest rates may need to rise to prevent the American economy from overheating.
In Asia, a raft of manufacturing data in emerging Asia in this week pointed to a slower pace of economic recovery with worried by the modest vaccination rate in the face of an explosion in the infection cases and a creaky healthcare system. India reported an infections surged past 20 million.
Yesterday, Indonesian Rupiah closed up 0.14 percent to 14,430 versus the American Dollar and the Jakarta Composite Index (JCI) rose 0.19 percent to 5,963.82 compared to the previous day. Analysts explained that the challenges of economic recovery from the impact of the pandemic are still very high and will affect efforts to recover the economy this year and next.
With this information, the Rupiah is estimated to move between 14,410 - 14,450 against the US Dollar and the JCI is in the range of 5,827 - 6,088. Stocks that can be considered are PT Aneka Tambang Tbk (IDX: ANTM), PT Bank Central Asia Tbk (IDX: BBCA), PT Bank Rakyat Indonesia Tbk (IDX: BBRI), PT Astra International Tbk (IDX: ASII), PT Indofood Sukses Makmur (IDX: INDF), PT Adaro Energy Tbk (IDX: ADRO), PT Indika Energy Tbk (IDX: INDY), PT Timah Tbk (IDX: TINS), and PT United Tractors Tbk (IDX: UNTR).
May you have a profitable day!
Written by Linda Silaen and the Editorial Team, Please Read Our News to Get More information about Indonesia
