Indonesia loosened the PPKM

16 Sep 2021 Written by: Redaksi OCBC NISP

COVID-19 in Indonesia is getting better, as can be seen from the rate of spread that continues to show a significant decline.

Monday, 13 September 2021, the government reported 2,577 new cases; while recovered cases were recorded at 12,474. Of course, this is a positive development considering the incident last month where daily positive cases were still around 30 thousand per day. The decline in the transmission of the COVID-19 virus in Indonesia is certainly supported by the government's strict implementation of Pemberlakuan Pembatasan Kegiatan Masyarakat (PPKM) policies.

With the decline in the level of domestic spread, the government has now reviewed the PPKM Level 4 policy which was previously implemented in 11 provinces in Java-Bali. The government agreed on Monday, 13 September 2021, through the Instruction of the Minister of Home Affairs (Inmendagri) Number 42 of 2021 concerning the Implementation of Pemberlakuan Pembatasan Kegiatan Masyarakat Level 4, Level 3, and Level 2 Corona Virus Disease 2019, to loosen the PPKM Level 4 policy in several regions. Currently, only three regions in Java-Bali are implementing PPKM Level 4 during September 14-12, 2021, while the rest will only implement PPKM Level 2 and 3. The three regions that are still implementing PPKM Level 4 are Cirebon and Purwakarta districts in West Java and Brebes Regency in Central Java.

The government is considering a decrease in the spread rate to 96% from its peak on July 15 in the Java-Bali region in deciding which is expected that businesses will start to rise to lead the national economic recovery.

Investment Strategy:
With the recovery of the business world, the stock market will be able to feel a more positive euphoria. The stock market is projected to slowly strengthen back to its initial level in 2021 after experiencing sideways in the last few months. Investor optimism is expected to be a positive catalyst for the stock market.

Source: Kompas, CNN, DetikNews, Worldometers

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