ECONOMY

Financial system stability in 2023 remained well preserved amid the ongoing global economic turmoil and uncertainty. This has enabled the domestic economy to grow quite robustly. This is reflected in the resilience of the financial system as indicated by the Financial System Stability Index (ISSK) which has stayed in the normal zone throughout the year. In line with this, banking intermediation has increased, supported by higher risk appetite and adequate liquidity in the market. 

Satu Kahkonen, the World Bank country director for Indonesia and Timor Leste, was criticized as being “careless” by British media the The International Business Times (IBT) after commenting on President-elect Prabowo’s key campaign program to provide free lunches and milk for Indonesian children.

PT Brother International Sales Indonesia, a leading provider of IT equipment from Japan, announced the launch of the newest Brother Laser Printer, the first lineup of laser printers with the most economical genuine toner in Indonesia. It is intended as a solution for those who want a printer with maximum printing speed, with the best quality and of course with cost-efficient genuine toner.

The Trade Ministry (Kemendag) revealed that Canada is going to import food and beverage products from Indonesia with a value of up to US$1.8 million (Rp27 billion) in the next one year.

Entertainment tax in Jakarta has now increased to 40 percent based on Article 53 (2) of Jakarta Provincial Regulation 1/2024. This policy was signed by the Interim Governor of Jakarta Heru Budi Hartono.

Finance Minister Sri Mulyani said Indonesia's economy can potentially grow by 5.2 percent in 2024 in line with the projections from several national and international financial institutions, per Katadata, Thursday (4/1).

The Indonesian government encouraged the implementation of the European Union Deforestation-free Regulation (EUDR) at the Epistemic Community and Market Forum (ECMF) in Madrid and Rome recently. This effort is taken so that small farmers are not excluded from the EU market.

The government has earmarked up to Rp3.7 trillion for housing incentives for fiscal year 2023 and 2024. There are three types of incentive prepared, namely the commercial housing sector, houses for low-income people, and houses for poor people, announced the Public Works and Housing (PUPR) Ministry, per CNBC Indonesia, Fri (1/12).

The government will grant value added tax (VAT) exemption for home purchase worth under Rp2 billion until June 2024.

They will apply to products ranging from toys to cosmetics to stem the influx of imported goods from China.

The Indonesian Employers Association (Apindo) said the Israeli and Palestinian war could have a negative impact on the Indonesian economy and business scene. The most immediate one would be the spike in energy prices.