Markets and Finance
Anindya Bakrie elected as Kadin chairman for 2024-2029 terms
The National Conference (Munas) of the Indonesian Chamber of Commerce and Industry (Kadin) held at the Ritz-Carlton Hotel in Jakarta on Thursday, January 16, 2025 formally appointed Anindya Novian Bakrie as chairman for the 2024-2029 period, marking the unification of two opposing camps within the business people organization.
ADB agrees on US$92.6M financing for Indonesia's geothermal power expansion
The Asian Development Bank (ADB) signed a US$92.6 million (Rp1.5 trillion) financing agreement with PT Supreme Energy Muara Laboh (SEML) for the development of Indonesia's geothermal power resources.
Salt industry faces challenges, focuses on quality improvement, expansion
The Indonesian Food and Beverage Entrepreneurs Association (GAPMMI) reveals that locally produced salt cannot yet be used in the food and beverage industry, with product damage reaching 60 percent in the production process.
Indonesians’ Paylater debts soar, driving BNPL growth and rising loan defaults
The Financial Services Authority (OJK) revealed that Indonesian Paylater debts jumped by 48 percent from the same period of the previous year to Rp20.5 trillion (US$1.3 billion), while the Buy Now Pay Later (BNPL) receivables in financing companies and banks were recorded at Rp30.36 trillion.
Macroeconomic assumptions for 2024 miss on Target, growth at 5 percent
Minister of Finance Sri Mulyani Indrawati has reported that the realization of the basic macroeconomic assumptions for 2024 completely missed the target set in the 2024 State Budget (APBN), with economic growth in 2024 at 5 percent, lower than initial assumption of 5.2 percent.
President sets Rp13 T in investment target for 2024-2029, to boost economic growth
President Prabowo Subianto has set the target of Rp13,032 trillion (US$803 billion) in investment for the 2024-2029 period to create more jobs domestically and promote economic growth.
OJK plans SIPF for crypto investors, prepares for supervision shift in 2025
The Financial Services Authority (OJK) plans to create a Securities Investor Protection Fund (SIPF) institution which is currently being considered to provide protection for crypto investors in Indonesia.
Indonesia's 2024 budget deficit lower than latest estimates
Indonesia's budget deficit for the 2024 fiscal year was lower than the government's latest estimate of 2.7 percent of Gross Domestic Product (GDP), a top government official said.
Prabowo cancels VAT rate increase, a New Year's gift to Indonesia
Coordinating Minister for Political and Security Affairs, Budi Gunawan, said President Prabowo Subianto gave a special gift for New Year's Eve 2025 to Indonesia by cancelling the planned increase of Value-added Tax (VAT) to 12 percent.
Economy projected to grow 5% next year, early de-industrialization in the spotlight
Indonesia's economic growth is estimated to remain stagnant at 5 percent in 2025 amidst the absence of a policy strategy capable of freeing the industrial sector from the trap of early deindustrialization.
Indonesia increases GDP fourfold in two decades: IMF
Indonesia has recorded extraordinary achievements in the last two decades by managing to increase gross domestic product (GDP) fourfold and reduce poverty rates tenfold.
IDX targets 66 IPOs in 2025 for boosting investor growth, market activity
Indonesia Stock Exchange (IDX) is targeting about 66 new companies which will conduct an initial public offering (IPO) in 2025, an increased of 6.45 percent from 62 companies in 2024.