Indonesia economy - updates

Rappler's latest stories on Indonesia economy


Indonesia's central bank cuts rates as economy tanks

Jun 18, 2020 - 10:20 PM

Bank Indonesia reduces the key lending rate to 4.25%. It also lowers its 2020 economic growth forecast to between 0.9% and 1.9%.

PRAYERS. Balinese people praying during the Galungan holiday at Jagatnata temple in Denpasar, Indonesia's resort island of Bali, on February 19, 2020. Photo by Sonny Tumbelaka/AFP

Indonesia economy sees weakest growth in almost 2 decades

May 05, 2020 - 5:15 PM

Indonesia, Southeast Asia's biggest economy, grows 2.97% in January-March 2020. It is the worst rate since 2001.

A general view shows residential and commercial buildings in Jakarta on May 5, 2020. - Indonesia's economy grew in the first quarter at its slowest pace for almost two decades, and economists warned on May 5 the coronavirus crisis would likely deal an even greater blow in the next three months. (Photo by ADEK BERRY / AFP)

Indonesia uses new interest rate to boost economy

Aug 19, 2016 - 11:51 PM

The new rate which is a shift from the old 12 month reference rate has a more short term focus and the bank hopes it will help them influence markets more quickly and directly

INTEREST RATE. The facade of Bank Indonesia building is seen in the capital city of Jakarta on May 8, 2014. AFP PHOTO / ROMEO GACAD

Pokemon, LGBT, and gov't: The paradox of neoliberal Indonesia

Aug 02, 2016 - 1:13 PM

As illustrated in Pokemon and LGBT cases policing private lives under the justification of national identity and security provides a platform for State to re articulate its power

POKEMON REGULATIONS. Some government offices have banned the use of Pokemon Go. Photo by Adinda Putri/

Indonesia trade minister: Jakarta can meet TPP standards

Nov 16, 2015 - 5:49 PM

Indonesian trade minister Tom Lembong makes a new push for the TPP at the APEC summit in Manila: We can and we should aim for the highest standards

'SELF-CONFIDENCE.' Indonesian trade minister Tom Lembong tells Rappler that Jakarta must be confident about meeting TPP commitments. Photo by Lilibeth Frondoso/Rappler

Indonesia's economic growth picks up slightly in Q3

Nov 05, 2015 - 5:50 PM

Economists said that despite a slight uptick of the recent quarterly growth Indonesia will post the slowest growth of under 5 for full year 2015

RISE. Indonesia's economy enjoyed a slight growth in the 3rd quarter. EPA/BAGUS INDAHONO

Indonesia's growth slows further in second quarter 2015

Aug 05, 2015 - 5:50 PM

Indonesia s growth slid in the second quarter to levels unseen since 2009

Inflation remains high in Indonesia despite forecast easing

Aug 03, 2015 - 5:07 PM

The consumer price index rose 7 26 percent year on year the same increase as the previous month

Indonesian vendors prepare vegetables at a traditional market in Jakarta, Indonesia, on July 9, 2015. Photo by Mast Irham/EPA

Indonesia's quarterly growth slowest since 2009

May 05, 2015 - 3:40 PM

The economy expanded a lower than expected 4 71 percent year on year in the three months to the end of March

SLOWING GROWTH. Indonesian workers at a construction site in Jakarta in September 2014. Photo by EPA

Jokowi to investors: If you have problems, call me

Apr 20, 2015 - 8:45 PM

Indonesia s president is wooing badly needed foreign investors

CALL ME. Indonesian President Joko Widodo is on a mission to woo foreign investors. Photo by Gatta Dewabrata/Rappler

Indonesia posts higher-than-expected trade surplus

Apr 15, 2015 - 7:51 PM

Indonesia posts a trade surplus of 1 13 billion in March – about double the amount expected by economists

Indonesia rupiah. File photo by AFP

Can Jokowi revive Indonesia's faltering manufacturers?

Apr 15, 2015 - 2:49 PM

Despite the challenges there are already signs that Jokowi s new approach is generating greater optimism

Indonesia holds key interest rate at 7.5%

Apr 14, 2015 - 7:35 PM

Tighter monetary policy tends to boost the value of a country s currency but analysts do not expect Indonesia to raise rates soon with growth sagging

A rate cut in February led to steep falls in the rupiah against the dollar. Photo by EPA

Indonesian inflation picks up in March

Apr 01, 2015 - 4:56 PM

Inflation picks up to 6 38 in March

RICE PRICE. The price of some rice variants rose by about 30% from the start of the year to March. Photo by Adi Weda/EPA

Jokowi to visit Japan and China to seek investments

Mar 20, 2015 - 4:16 PM

Jokowi will meet with Japanese Prime Minister Shinzo Abe and Chinese President Xi Jinping

FOREIGN AFFAIRS. (L-R) Japan Prime Minister Shinzo Abe, Indonesia President Joko Widodo, Australia Prime Minister Tony Abbott and Cambodia Prime Minister Hun Sen  at the 25th ASEAN summit in Naypyitaw, Myanmar, November 12, 2014. Photo by Barbara Walton/EPA

Indonesia posts trade surplus as exports, imports fall

Mar 16, 2015 - 4:27 PM

Indonesia saw a higher than expected surplus of 738 3 million

SLOWING GROWTH. Indonesia's economic growth slipped to 5.01% in the third quarter – the lowest level in 5 years. File photo by EPA

Bank Indonesia unexpectedly cuts rate to spur growth

Feb 18, 2015 - 2:07 PM

It is the first time in 3 years that Bank Indonesia has moved to trim the rate

CENTRAL BANK. Employees of Bank Indonesia walk outside the bank's building in Jakarta, Indonesia. File photo by EPA

Riset: Indonesia paling suka belanja makanan dan smartphone

Feb 16, 2015 - 8:15 PM

Survei ini menunjukkan masyarakat kelas menengah Indonesia cenderung belanjakan uangnya untuk telepon pintar akses Internet properti dan sepeda motor

Indonesia posts $710 mn trade surplus in January

Feb 16, 2015 - 3:14 PM

The drop was due to the sharp fall of global oil prices

OIL PRICES. Indonesia's inflation rate slowed in January after the cost of fuel in Southeast Asia's biggest economy fell on the back of lower oil prices. Photo by AFP

The wRap Indonesia: Feb. 5, 2015

Feb 05, 2015 - 2:36 PM

Indonesia s 2014 GDP growth rate Budi Waseso s new 3 star ranking Jokowi s visit to Malaysia and more

BALI NINE. Australian drug smuggling suspects Andrew Chan (L) and Myuran Sukumaran (R) inside a holding cell waiting for their trial at Denpasar District Court in Bali in February 2006. Photo by EPA

Indonesia's economic growth hits 5-year low

Feb 05, 2015 - 1:32 PM

Southeast Asia s largest economy registers a 5 01 growth rate in 2014

SLOWING GROWTH. Indonesian workers build a building at a construction side in Jakarta, Indonesia on 03 September 2014. Photo by EPA

The wRap Indonesia: Jan. 27, 2015

Jan 27, 2015 - 3:14 PM

The latest on the police KPK conflict ban on US apples linked to disease outbreak North Korean leader s possible visit and more

Photo courtesy of CNN

The wRap Indonesia: Dec. 18, 2014

Dec 18, 2014 - 1:14 PM

Yudhoyono tweets about who s not to blame for the weakening rupiah Jakarta s new deputy governor is a lot like Jokowi the Banjarnegara death toll is now officially at 83 and more

Jakarta's new deputy governor Djarot Saiful Hidayat. Photo by Tony Hartawan/Tempo

Indonesia holds interest rates after recent hike

Dec 11, 2014 - 7:44 PM

Last month’s interest rate increase was the first for a year and the rate is now at its highest level for 5 years

CENTRAL BANK. The facade of Bank Indonesia building is seen in the capital city of Jakarta. File photo by AFP

Indonesian inflation up, manufacturing hit after fuel price hike

Dec 01, 2014 - 1:43 PM

But Indonesia s trade balance swung to a small surplus of 20 million in October from a 270 million deficit the previous month as a fall in oil prices cut the country s import bills

PROTEST. Indonesian students lay down on the street during an anti-fuel price hike protest at the presidential palace in Jakarta, Indonesia, 18 November 2014. Photo by EPA

Indonesia raises interest rates after fuel price increase

Nov 18, 2014 - 7:32 PM

Also stocks increase and the rupiah strengthens as a result of the fuel price hikes

LATE NIGHT ANNOUNCEMENT. President Joko Widodo and members of his cabinet announcing the fuel price hikes late on Monday, November 17, 2014. They came into effect less than 3 hours after the announcement. Photo by EPA

Jokowi fulfills promise, raises fuel prices

Nov 17, 2014 - 10:28 PM

Gasoline prices increase from IDR6 500 per liter 0 53 to IDR8 500 per liter at midnight on November 18

PUMP PRICES. Motorbike riders line up at a Pertamina gas station in Jakarta to purchase subsidized fuel. File photo by EPA

Jokowi outlines economic reform priorities at G20

Nov 16, 2014 - 3:18 PM

Improving business licensing tax reform reducing fuel subsidies and building social infrastructure top Jokowi s priorities in reviving Southeast Asia s largest economy

JOKOWI AND ABBOTT. Australian Prime minister Tony Abbott (L) greets Indonesian President Joko Widodo (R) during the official welcome at the Brisbane Convention and Exhibitions Centre (BCEC) in Brisbane, Australia, November 15, 2014. Photo by EPA

Indonesia holds rates ahead of fuel price hike

Nov 13, 2014 - 6:34 PM

Bank Indonesia keeps the rate at 7 50 for the 12th consecutive month in line with economists forecasts

LOOMING PRICE HIKE. Indonesian motorbike riders line up at a petrol station in Jakarta. The price of subsidized fuel is expected to go up soon. File photo by EPA

Indonesia's GDP growth slows again, hits new 5-year low

Nov 05, 2014 - 3:39 PM

Official data shows Southeast Asia s largest economy expanded 5 01 in the third quarter below economist forecasts

SLOWING GROWTH. Indonesia's economic growth slipped to 5.01% in the third quarter – the lowest level in 5 years. File photo by EPA

Indonesian inflation edges up as fuel price hike looms

Nov 03, 2014 - 3:57 PM

Economists say prices have gone up now because the market has anticipated the fuel price hike

PUMP PRICES. Motorbike riders line up at a Pertamina gas station in Jakarta to purchase subsidized fuel. File photo by EPA

Farewell to SBY and his years of wasted opportunities

Oct 19, 2014 - 5:08 PM

SBY had so much power and public support — more than his successor Joko Widodo has now Yet he fumbled due to his unwillingness to break some eggs

FAREWELL. Outgoing President Susilo Bambang Yudhoyono and first lady Ani Yudhoyono during the Independence Day rites on August 17, 2014. Photo by AFP

Indonesians snap up 'luxury' cows for Muslim Eid festival

Oct 03, 2014 - 1:31 PM

Showrooms stop selling second hand cars for about a month before Eid al Adha every year to make way for the Lexus and Mercedes of the cattle world

PRIME LIVESTOCK. A sales promotion girl waits for customer as she sell cows for the upcoming Eid al-Adha festival at a cow barn in Depok, Indonesia, on September 23, 2014. Millions of Muslims around the world prepare to celebrate Eid al-Adha, which falls on October 5, 2014 in Indonesia, by slaughtering goats, sheep and cattle in commemoration of the Prophet Abraham's readiness to sacrifice his son to show obedience to God. Photo by Adi Weda/EPA

The wRap Indonesia: Oct. 2, 2014

Oct 02, 2014 - 10:05 AM

Fighting and walkouts on day one of the new legislature easy Japan tourist visa procedures KPK s new antigraft smartphone app and more

NEW HOUSE. Indonesia's new lawmakers being inaugurated in Jakarta on Wednesday, October 1, 2014. Photo by Adek Berry/AFP

Indonesia's August trade balance swings to deficit

Oct 01, 2014 - 3:49 PM

Indonesia was expected to book a trade surplus for a second consecutive month but instead it reported a 318 1 million deficit due to a surge in imports

LOCAL MANUFACTURING. PT ABC President Indonesia's bottled tea beverage manufacturing plant in the Kerawang industrial area in West Java province. File photo by AFP

Why SBY had good reason not to raise fuel prices

Sep 29, 2014 - 1:33 PM

To be clear fuel subsidies should be scrapped But President Susilo Bambang Yudhoyono had good reason to refuse Jokowi s request to start raising fuel prices now

SUBSIDY DILEMMA. A long queue of Indonesian motorists waiting to fill up their motorbikes with subsidized fuel at a gas station in Yogyakarta on August 27, 2014, caused by a policy to reduce the quota of subsidized fuel distributed daily. Photo by Bimo Satrio/EPA

SBY’s mixed legacy

Sep 22, 2014 - 1:00 PM

Susilo Bambang Yudhoyono’s 10 year rule leaves Indonesia with mixed fortunes and a controversial legacy writes Marcus Mietzner

OUTGOING PRESIDENT. President Susilo Bambang Yudhoyono saluting the Indonesian flag during Independence Day rites in 2010. File photo by AFP

The wRap Indonesia: Sept. 19, 2014

Sep 19, 2014 - 10:07 AM

Rupiah breaches psychological threshold of 12 000 Indonesia U 23 football team advances in Asian Games latest political maneuvers from the Democrats and Gerindra on the local elections bill and more

UNDERVALUED? The Indonesian rupiah breached the 12,000 level on Thursday morning. File photo by AFP

Indonesia 'optimistic' on 7% growth by 2017

Sep 18, 2014 - 2:05 PM

Jokowi has pledged to raise GDP growth to 7 a year within 2 years but many economists consider the target ambitious

EMERGING ECONOMY. President-elect Joko Widodo has pledged to raise GDP growth to 7% a year within two years. Photo by Rappler

The wRap Indonesia: Sept. 4, 2014

Sep 04, 2014 - 9:25 AM

Indonesia s energy minister named graft suspect Indonesia s ranking improvement in WEF s 2014 Global Competitiveness Report hefty new fines for illegal parkers in Jakarta and more

This picture taken in Jakarta on July 3, 2014 shows vehicles on a road in Jakarta. The winner of this week's Indonesian presidential election faces serious challenges to keep Southeast Asia's top economy on track, from cutting fuel subsidies and fighting corruption to revamping creaking infrastructure and boosting spending on the poor. AFP PHOTO / ADEK BERRY

Indonesia moves up 4 spots in WEF competitiveness rankings

Sep 03, 2014 - 1:40 PM

Indonesia was ranked 34th among 144 countries up from 38th in 2013 and 50th in 2012 The country performed well in terms of governance and government efficiency but performance was uneven

EMERGING ECONOMY. Indonesia, Southeast Asia's largest economy, grew by 5.8% annually since 2004.

Indonesia trade picture brightens after Ramadan slump

Sep 01, 2014 - 3:31 PM

The trade surplus came in at 125 million compared to a deficit of around 290 million in June

BOOMING TRADE. Indonesian women buy clothes at a commercial center in Jakarta on August 4, 2014. Indonesia posted a slim trade surplus in July, bouncing back from a deficit the previous month. Photo by Romeo Gacad/AFP

Fuel subsidy storm clouds gather before Indonesia power handover

Aug 31, 2014 - 12:30 PM

Weeks before he takes office Joko Jokowi Widodo vows to slash fuel subsidies and redirect the money to other programs

INDONESIA'S 7TH PRESIDENT. With the court challenge by his rival ex-general Prabowo Subianto defeated and the last element of doubt over his victory gone, President-elect Joko Widodo is now focusing on how to push his ambitious reform plans when he takes office in October. Photo by Romeo Gacad/AFP

Indonesia's president satisfied on leaving office

Aug 26, 2014 - 11:47 AM

I leave my office with a sense of satisfaction that I have tried to do my best to serve the nation and that at the end of my 10 years in office Indonesia is a stronger nation a stronger democracy and a stronger economy Yudhoyono says

FINAL ADDRESS. Outgoing Indonesian President Susilo Bambang Yudhoyono delivers his annual speech in front of members of parliament at the parliamentary building in Jakarta on August 15, 2014, ahead of Independence Day on August 17. Yudhoyono steps down on October 20. EPA/BAGUS INDAHONO

In final address, Yudhoyono touts achievements, apologizes

Aug 15, 2014 - 3:20 PM

Certainly in 10 years I have made a lot of mistakes and oversights in carrying out my duties From the bottom of my heart I ask forgiveness for all those shortcomings and oversights Although I always want to do my best I am still human

FINAL ADDRESS. Outgoing Indonesian President Susilo Bambang Yudhoyono delivers his annual speech in front of members of parliament in Jakarta on Aug. 15, 2014, ahead of Independence Day on Aug. 17. His term ends on Oct. 20, 2014, after 10 years in office. Photo by Bagus Indahono/EPA

Indonesian growth slowest since 2009 in second quarter

Aug 05, 2014 - 2:11 PM

The disappointing data underscores the tough task ahead for President elect Joko Widodo who assumes office in October

SLOWING GROWTH. Indonesia's economy grew 5.12% in the three months to the end of June, down from 5.2% expansion in the first quarter. File photo by AFP

Indonesia posts trade deficit due to Ramadan imports

Aug 04, 2014 - 3:49 PM

The deficit in Southeast Asia s top economy came in at 305 million compared to a slim surplus of 70 million the previous month

HOLIDAY SHOPPING.  Indonesians typically splash out on expensive food to break the fasting during Ramadan and on lavish clothes to wear to celebrate Eid.  File photo by EPA

Uncertainty for Indonesia after disputed vote

Jul 13, 2014 - 12:53 PM

Fears rise for Southeast Asia s top economy as growth sits at four year lows foreign investment slows and corruption remains rife

CHOICE. An Indonesian voter casts his vote at a polling station in Semarang, Central Java, Indonesia, 09 July 2014. Dahana Kencana/EPA

Next Indonesian leader walks into economic storm

Jul 06, 2014 - 4:09 PM

Analyst: The next president will inherit huge problems he will have to hit the ground running on the first day

GRIDLOCK. This picture taken in Jakarta on July 3, 2014 shows vehicles on a road in Jakarta. Adek Berry/AFP

Will Indonesia be competitive in an integrated ASEAN?

Jun 18, 2014 - 1:45 PM

There are worries that Indonesia – the largest market in the region with a population of 250 million – would remain a target instead of a strong player

COMPETITIVE? An Indonesian rides a motorbike past containers at the Tanjung Priok Port in Jakarta, Indonesia, in this 2012 file photo. Photo by Bagus Indahono/EPA