Policy and Governance
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Prabowo approves Rp48.8 T budget for IKN development for 2025-2029 phase
President Prabowo Subianto has set the development of the Nusantara Capital City (IKN) for the next five years, approving a total budget of Rp48.8 trillion (US$ 3 billion).
Prabowo saves Rp20 T in State Budget by reducing travel, ceremonial expenditures
President Prabowo Subianto has made State Budget (APBN) savings of Rp20 trillion (US$1.2 billion) by cutting travel expenses for ministers and officials in the Red and White Cabinet.
Indonesia to redirect state budget savings to boost MBG program
Minister of State Secretary (Mensesneg), Prasetyo Hadi, has hinted at the government’s decision to save the 2025 state budget (APBN) for the sake of increasing funding for the free nutritious meals program (MBG).
Upstream oil & gas sector welcomes newly established CCS regulation
The upstream oil and gas sector players, grouped under the Indonesian Petroleum Association (IPA), has positively responded to the new Minister of Energy and Mineral Resources (ESDM) Regulation (Permen) No. 16/2024 on the Implementation of Carbon Storage Activities issued on December 24, 2024.
Ombudsman cites maladministration in ESDM ministry's approval of mining budget
The Indonesian Ombudsman recently published a report on allegations of maladministration surrounding the Ministry of Energy and Mineral Resources’ (ESDM) Approval on the Working Plan and Budget (RKAB) for minerals and coal in 2021-2024.
President Prabowo tells ministers to stick to the set budget
President Prabowo Subianto asks his Cabinet ministers to stick to the budget allocated by the government and should not ask for additional budgets to Finance Minister Sri Mulyani Indrawati.
Ministry holds Expose of 2024 Strategic Investment Downstreaming Study
The Ministry of Investment and Downstreaming/Investment Coordinating Board (BKPM) held an Expose of the 2024 Strategic Investment Downstreaming Study in Jakarta, on Monday, December 23, 2024 attended by 150 participants from relevant ministries and institutions, business associations and actors, academics, as well as heads of Investment and One-Stop Integrated Services (DPMPTSP) and heads of Regional Development Planning Agencies (Bappeda).
State Budget deficit as of November 2024 reaches Rp401.8 trillion
Minister of Finance Sri Mulyani Indrawati reveals that the realization of the State Budget (APBN) deficit until November 2024 has reached Rp401.8 trillion (US$25.2 billion), or equivalent to 1.81 percent of Gross Domestic Product (GDP) and is still below the limit set in the law of Rp522.8 trillion (US$32,7 billion).
Prabowo orders for ministerial budget slash, decreaseon overseas trips
President Prabowo Subianto has given special instructions to Minister of Finance Sri Mulyani Indrawati to slash ceremonial activities and overseas trips from each ministerial budget in order to save the State Budget.
Minister seeks budget up to Rp20 T to build properties for human rights programs
Minister of Human Rights Natalius Pigai has sought a budget increase from the current Rp64 billion (US$4 million) to Rp20 trillion (US$1.2 billion) that will be used to establish an international class human rights university, laboratory and hospital.
Celios warns of potential budget swell from Prabowo’s expanded cabinet
The Center of Economic and Law Studies (Celios) has projected that Indonesia's state budget could increase by Rp1.95 trillion (US$126 million) over the next five years due to President-elect Prabowo Subianto's plan to expand his cabinet with hundreds of ministerial, deputy ministerial, and agency head positions.
Lower budget for IKN development under Prabowo-Gibran administration: Sri Mulyani
Indonesia's 2025 budget for the development of the new capital Nusantara (IKN) is set at Rp143.1 billion (US$9.2 million), significantly lower than the infrastructure support provided in 2022.