TEMPO.CO, Jakarta – The latest economic and business news until Sunday evening, 17 July 2022 starting with a review of the differences recession economy and economic depression. This is related to a survey which states the possibility of a number of countries in Asia experiencing an economic recession.
Then information about the Secretary General of the Association of Entrepreneurs Oil Palm Indonesia (Gapki) Eddy Martono asked the government to provide certainty on the time of notification of export approval (PE) in addition to removing palm oil export levies. The move is said to increase the price of palm fresh fruit bunches (FFB).
In addition, news about a number of recruitments that are still open until the end of July 2022 in State-Owned Enterprises or BUMN. The following is a summary of the three stories:
1. The Difference Between a Recession and an Economic Depression
A Bloomberg survey shows that Indonesia is ranked 14th out of 15 countries in Asia that are likely to experience an economic recession, as reported by Antara. Sri Mulyani explained that fiscal, monetary, financial sector and other regulations would be used to monitor the possibility of a recession.
According to the survey, the probability of Indonesia experiencing an economic recession is three percent. While the country that occupies the first position, namely Sri Lanka with a recession tendency of 85 percent.
In 1974, economist Julius Shiskin put forward some rules of thumb for defining a recession. The most popular view is that a recession is a decline in gross domestic product (GDP) for two consecutive quarters.
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