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☆ Analyst says Prabowo is likely to continue Jokowi's policies
▼ + stars: | 2024-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnalyst: Prabowo likely to continue Jokowi's policies, though many regard promise as 'lip service'Siwage Dharma Negara, senior fellow at the ISEAS-Yusof Ishak Institute, discusses the Indonesian presumptive president-elect's promise that he will continue President Joko Widodo's programs and policies.

Persons: Joko Organizations: Dharma Negara, Yusof, Institute

☆ Indonesia is heading to the polls to elect Jokowi's presidential successor
▼ + stars: | 2024-02-14 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

Presidential candidate and former Jakarta governor Anies Baswedan, vice presidential candidate Muhaimin Iskandar, presidential candidate and Indonesia's Defence Minister Prabowo Subianto, vice presidential candidate Gibran Rakabuming Raka, presidential candidate and former Central Java governor Ganjar Pranowo and vice presidential candidate Mahfud MD (from left to right) react on the stage during the last presidential election debate at the Jakarta Convention Center in Jakarta on February 4, 2024. More than 200 million voters in Indonesia are heading to more than 800,000 polling stations in the world's third-largest democracy on Wednesday to elect President Joko Widodo's successor, a new national House of Representatives and various local legislators. Widodo, also popularly known as Jokowi, beat Probowo in the last two presidential elections. Some of the latest opinion polls showed Probowo netting more than 50% of the vote against two other opponents. Voters have six hours to cast their five ballots for their preferred presidential and vice presidential pairing, as well as legislators at the national, provincial and regency level, along with a regional senator for the national parliament.

Persons: Anies Baswedan, Muhaimin Iskandar, Prabowo Subianto, Gibran Rakabuming Raka, Ganjar Pranowo, Mahfud, Joko Widodo's, Probowo Subianto, general's, Widodo, Probowo, It's, Richard Borsuk Organizations: Indonesia's Defence, Central Java, Jakarta Convention, of, Defense, Nanyang Technological, Rajaratnam, of International Studies, CNBC, Gerindra Party Locations: Jakarta, Indonesia, Nusantara

☆ Indonesia Votes for New President Under Shadow of Influential Incumbent
▼ + stars: | 2024-02-13 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +4 min

Those surveys show Prabowo with 51.8% and 51.9% support, with Anies and Ganjar a whopping 27 and 31 points adrift respectively. To win outright, a candidate needs over 50% of votes and to secure 20% of the ballot in half of the country's provinces. "Jokowi as the decisive factor has been proven by the rising popularity of Prabowo," said Arya Fernandes of Indonesia's Center for Strategic and International Studies. "But whether or not Prabowo can win in one round, there are some other factors outside of Jokowi," he said, noting turnout would be crucial for Prabowo. "The candidates' programmes will be the decisive factor... Populist pledges that are easy to remember will be very influential."

Persons: Ananda Teresia, Stanley Widianto, Joko Widodo, Ganjar, Anies, Prabowo Subianto, Suharto, Prabowo, Jokowi, Arya Fernandes, Jokowi's, Wasisto Raharjo, Martin Petty, Nick Macfie Organizations: Defence, Widodo, Indonesia's Center, Strategic, International Studies, Central Java, Prabowo, National Agency for Research, Innovation Locations: Stanley Widianto JAKARTA, Indonesia, country's, Jokowi, Jakarta, Jokowi's

☆ Indonesia Students Plan to Protest Alleged Poll Interference
▼ + stars: | 2024-02-12 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

But he has made highly publicised appearances with Prabowo, and his eldest son is running on the same ticket as vice president. Some voters have taken issue with Jokowi's perceived lack of neutrality, saying it undermines Indonesia's democracy by giving one candidate an unfair advantage . Another protest was planned in the capital Jakarta by several rights groups. The student protests also come as Indonesia enters a cooling-off period until voting day on Wednesday. Authorities were seen removing candidates' billboards and posters, and candidates are barred from campaigning during this period.

Persons: Ananda Teresia, Joko Widodo's, Prabowo Subianto, Prabowo, Anies, Ganjar Pranowo, Gejayan, Jokowi, Dandhy Laksono, Kanupriya Kapoor, Ed Davies Organizations: Ananda, YouTube, Monday, Reuters, Authorities Locations: Ananda Teresia JAKARTA, Yogyakarta, Java, Jakarta, Indonesia

It is a three-way race for the presidency among current Defense Minister Prabowo Subianto and two former provincial governors, Anies Baswedan and Ganjar Pranowo. While he is the oldest candidate, his running mate is the youngest: 36-year-old Surakarta Mayor Gibran Rakabuming Raka, Widodo's son. His running mate is Mohammad Mahfud, who resigned as security minister to focus on campaigning. He is also a former defense minister, justice minister and chief justice of the Constitutional Court. His choice of Muhaimin Iskandar as his running mate in Wednesday's election is viewed as an attempt to rebuild that support.

Persons: Joko Widodo, Prabowo Subianto, Anies, Subianto, Gibran Rakabuming Raka, Suharto, Widodo's, Raka, —, GANJAR, Pranowo, ” Pranowo, Mohammad Mahfud, ANIES, Baswedan, Widodo, Basuki Tjahaja Purnama, Muhaimin Iskandar, Iskandar’s, ” Organizations: SUBIANTO, Gerindra Party, Constitutional, Indonesian Democratic Party of, Central Java, FIFA, Islamic, Fulbright, Awakening Party, Ulama, Associated Press Locations: JAKARTA, Indonesia, Jordan, Surakarta, Central, Israel, Jakarta, Chinese, Wednesday's, Nusantara, Borneo

He served as mayor of Solo city, where he was born to a working-class family in illegally built shacks along a river, then became governor of the capital, Jakarta, before clinching his first presidential term. Widodo was the first Indonesian president to emerge outside the political and military elite. But critics say he thrived on political compromises, became beholden to political party supporters and accommodated ex-generals who served under the late authoritarian leader Suharto. Under Widodo, Indonesia saw a period of remarkable growth averaging 5% annually, except in 2020, when the economy contracted due to the coronavirus pandemic. His economic roadmap, called “Golden Indonesia 2045,” projects Indonesia becoming one of the world’s top five economies with GDP of up to $9 trillion, exactly a century after it won independence from Dutch colonizers.

Persons: Widodo —, Barack Obama —, Widodo, Suharto, Prabowo Subianto, ” Widodo, Gibran Rakabuming Raka, Widodo’s, —, Metallica, Subianto, we’ve, ”, Dwi Mustikarini, Volodymyr Zelenskyy, Vladimir Putin, Joe Biden, Xi Jingping, Jim Gomez Organizations: White, Bloomberg Television, Associated Press Locations: JAKARTA, Indonesia, Borneo, Southeast Asia, Solo, Jakarta, Surakarta, Central Java, Widodo's, New York, Widodo, Kyiv, Moscow, China

Increasingly, voters are demanding that the men vying to succeed him address the tradeoffs between fast growth and a healthy environment in the world's fourth most populated country. In recent years, surging commodity prices have fueled fast economic growth and helped Indonesia become a middle-income country. That growth is expected to slow as the boom loses steam, according to a World Bank report. “That means, if the government forces its development, it will involve inefficient and unproductive allocation of resources.”Another campaign issue: food estate programs, massive plantations the government set up to fortify national food security. INDONESIA’S ENERGY TRANSITIONIn 2021, coal-rich Indonesia was the world’s ninth-largest source of carbon emissions that are causing global warming, according to a report by the International Energy Agency.

Persons: —, Joko Widodo, It's, Joko Widodo —, Prabowo Subianto, Josua Pardede, ”, Arianto Patunru, Baswedan, Bhima Yudhistira Adhinegara, El Organizations: Permata Bank, EV, Australian National University, of Economic, Law Studies, International Energy Agency, World Bank, Youth, Bank, El Nino, AP Locations: JAKARTA, Indonesia, Jakarta, Nusantara, Borneo, Anies, Central Java, Widodo, Washington, Kalimantan

☆ Factbox-Policy Pledges of Indonesia's Presidential Candidates
▼ + stars: | 2024-02-06 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +5 min

(Reuters) - Three candidates are running in Indonesia's presidential election on Feb. 14. The following is a summary of policy objectives they have pledged while campaigning. ANIES BASWEDAN- Target 5.5%-6.5% average annual economic growth from 2025-2029- Create 15 million jobs, including 'green' jobs- Raise the tax-to-GDP ratio from 10.4% in 2022 to 13%-16% by 2029- Target annual inflation of 2%-3% from 2025-2029- Offer incentives for renewable energy projects- Impose a carbon tax with proceeds to be used as an endowment fund to finance development of renewable energy- Increase the 'village fund' to 5 billion rupiah ($317,965) for each village, from the current 1 billion rupiah. - Widen access to global markets for palm oil farmers- Strengthen free trade agreements and Indonesia's role in international financial institutions- Minimise imports of staple foods- Create 2 million new affordable housing units, including for informal workers, youth- Expedite forest conservation and rehabilitation projects- Limit new construction of, and retire existing coal-fired power plants, especially in Java, Bali islands- Review debt of state-owned enterprises, continue debt restructuring programme- Revise Jobs Creation Law with goal to ensure fair wages for workers- Evaluate the $32 billion new capital city project- Evaluate food estate programme, replacing it with contract farming, a scheme to ensure farm products will be sold- Impose a wealth tax on Indonesia's 100 richest people- Audit the nickel industry with focus on its impact on the environment and ensuring welfare of domestic workers- Strengthen the anti-corruption agency by revising the law that regulates it- Ease permitting requirements for building places of worshipGANJAR PRANOWO- Continue programmes of outgoing President Joko Widodo's administration- Target average annual economic growth of 7%- Create 17 million new jobs- Expedite construction of new capital city- Increase the defence budget as a percentage of gross domestic product (GDP) to between 1%-2%, from about 0.8% presently. Modernise military hardware- Target 30% share for renewable sources in energy mix by 2029- Allow more renewable energy producers to use electricity grids of state utility firms to boost green energy adoption- Set up a dedicated ministry for the palm oil sector- Maintain moratorium on deforestation, accelerate reforestation programmes- Create digital tax collection system under the new tax agency separated from finance ministry- Limit permit issuance of new nickel smelter to avoid a further oversupply- Expand social welfare to cover 15 million families, up from 10 million currently- Provide funding to ensure at least one member of a poor family receives education until college- Strengthen national anti-corruption agency- Maintain foreign policy of non-alignment- Strengthen Indonesia's commitment to support fight of Palestinian people- Revitalise the Association of Southeast Asian Nations and its decision-making process, especially regarding South China Sea disputes.

Persons: ANIES, GANJAR, Joko Widodo's, PRABOWO, Joko, Stanley Widianto, Ananda Teresia, Stefanno Sulaiman, Bernadette Christina Munthe, Martin Petty Organizations: Reuters, Association of Southeast Asian Nations Locations: Java, Bali, South

☆ Indonesia's Presidential Contenders Promise Tax Reform to Boost Revenue
▼ + stars: | 2024-02-02 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +4 min

JAKARTA (Reuters) - The three main candidates contesting Indonesia's presidential elections this month are proposing to bolster government coffers by creating a new tax collection agency, despite scepticism from the tax and business community. Prabowo has set the highest tax-to-GDP target of 18%, or about $100 billion in additional tax revenue, if he wins the presidency, while also promising personal income tax cuts. NEW AGENCY NOT ENOUGHHowever, some economists and the business community say a new tax agency might not lead to higher revenue if other issues like the low tax base are not addressed. "There may be more binding constraints to revenue collection than administrative independence of the tax authority," the multinational lender told Reuters. "Tax officers should be fair ...

Persons: Joko Widodo's, Prabowo Subianto, Ganjar Pranowo, Prabowo, Drajad Wibowo, Jakarta Governor Anies, Wijayanto Samirin, Jahen, Fajry Akbar, Tutum, Stefanno Sulaiman, Stephen Coates Organizations: Jakarta Governor, U.S . Internal Revenue Service, Central Java, University of Indonesia, Bank, Reuters Locations: JAKARTA, Asia's, Indonesia

☆ Indonesia Chief Security Minister to Tender Resignation 'Soon'
▼ + stars: | 2024-01-31 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

JAKARTA (Reuters) - Indonesia's Chief Security Minister and vice presidential candidate Mahfud MD on Wednesday said that he would tender his resignation to President Joko Widodo once he has the chance to meet the president. Mahfud did not say why he would be stepping down from the job. Mahfud is the running mate of former provincial governor Ganjar Pranowo, who is up against Defence Minister Prabowo Subianto, and ex-Jakarta governor Anies Baswedan. Mahfud's resignation comes amid speculation and reports in local media about the potential resignation of respected Finance Minister Sri Mulyani Indrawati. The finance ministry has said Sri Mulyani is continuing to carry out her duties in managing state finances.

Persons: Mahfud, Joko Widodo, Ganjar Pranowo, Prabowo Subianto, Anies Baswedan, Mahfud's, Sri Mulyani Indrawati, Mulyani, Ganjar, Prabowo, Widodo's, Ananda Teresia, Stefanno Sulaiman, Stanley Widianto, Martin Petty Organizations: Defence Locations: JAKARTA, Jakarta, Indonesia

☆ Indonesia Approves 20% Rise in Defence Budget by 2024
▼ + stars: | 2023-11-29 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

JAKARTA (Reuters) - Indonesia's outgoing president has approved a 20% hike in defence spending through the end of next year, to upgrade the country's military hardware in response to geopolitical developments, its finance minister said. In a press conference on Wednesday, Sri Mulyani Indrawati said the approval came in a meeting she attended with President Joko Widodo and Defence Minister Prabowo Subianto. Prabowo is the leading candidate in the upcoming presidential election in February, and is running with Widodo's son. The defence budget will be increased from $20.75 billion to $25 billion, Sri Mulyani said. They considered them as a necessity given the condition of our military hardware as well as rising threats amid increasing geopolitical and geo-security dynamics," she said.

Persons: Sri Mulyani Indrawati, Joko Widodo, Prabowo Subianto, Prabowo, Mulyani, Lockheed Martin, Gayatri Suroyo, Ananda Teresia, Kanupriya Kapoor Organizations: Sri, Defence, Dassault Rafale, Turkish Aerospace Locations: JAKARTA, U.S

☆ Ahead of Indonesia’s elections, critics slam Jokowi for nepotism and ‘dynastic politics’
▼ + stars: | 2023-11-20 | by ( Nyshka Chandran | ) www.cnbc.com time to read: +7 min

Ulet Ifansasti | Getty Images News | Getty ImagesA year before stepping down as Indonesia's president, Joko Widodo is facing serious allegations of establishing a political dynasty through nepotism. The constitutional court, which was helmed by the president's brother-in-law Anwar Usman at that time, was widely criticized for changing the law, which enabled Jokowi's son to contest the election. Kompas Research and DevelopmentAccording to a poll in mid-October by Kompas Research and Development, 60.7% of respondents consider the participation of Jokowi's eldest son Gibran in the election as a form of dynastic politics. Son-in-law, Bobby Nasution Adding to Jokowi's political chessboard is also his son-in-law Bobby Nasution, the current mayor of Medan. The 'Jokowi effect'Analysts are now expecting what they call "a Jokowi effect" for the PSI and Gerindra parties.

Persons: Joko Widodo, Ulet Ifansasti, Joko, Gibran Rakabuming Raka, Prabowo Subianto, Gibran, Anwar Usman, Anwar, Kompas, Kaesang, Kaesang Pangarep, Bobby Nasution, Julia Lau, – Yusof, Jokowi's, Andi Widjajanto, Andi, Jokowi, Vedi Hadiz, Iriana Widodo, Gibran Rakbuming Raka, Lau, bode, Julia Lau ISEAS – Yusof Ishak, didn't, ISEAS – Yusof Organizations: Getty, Defence, Gerindra Party, Solo, Research, Kompas Research, Development, Indonesia Solidarity Party, PSI, Indonesia, Reuters, National Resilience Agency, Asia Institute, University of Melbourne, Afp, CNBC, Asia, Central Java, Indonesian Democratic Party of Locations: Jakarta, Indonesia, Ulet, Medan, Jokowi, Central Java, Afp, Southeast Asia, Ganjar

☆ Indonesia presidential contender Ganjar takes slim lead in new poll
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +3 min

The Oct. 26-31 survey by Charta Politika showed 36.8% of the 2,400 respondents backed the ruling party's Ganjar while 34.7% supported Prabowo, with 24.3% in favour of Anies Baswedan, Jakarta's former governor. Charta Politika's surveys since 2021 have mostly put Ganjar in the lead. However, Yunarto Wijaya, executive director of Charta Politika said Prabowo's decision to run with the president's son had contributed to Ganjar's lead in the latest poll. "Gibran has weakened Prabowo, the issue of dynastic politics, Jokowi, his family, the court's ruling," Yunarto said. Reporting by Stanley Widianto and Ananda Teresia; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

Persons: Pranowo, Mohammad Mahfud Mahmodin, Ganjar Pranowo, Prabowo Subianto, Anies, Prabowo, Ganjar, Charta, Joko, Jokowi, Gibran Rakabuming Raka, kingmaker, Gibran, Yunarto Wijaya, Yunarto, Stanley Widianto, Ananda Teresia, Martin Petty Organizations: Indonesian Democratic Party, Struggle, Charta Politika, Central Java, Constitutional, Thomson Locations: JAKARTA

☆ Indonesia's Top Judge Faces Guilty Verdict in Ethics Probe, Says Investigating Panel
▼ + stars: | 2023-11-03 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

The ruling prompted the formation of an ethics panel tasked to investigate the conduct of the court's nine judges, including chief justice Anwar Usman, who is the president's brother-in-law and Gibran's uncle. The head of the panel, former constitutional court judge Jimly Asshiddiqie, said that Anwar had been deemed the "most problematic". Asked by a journalist whether that meant he had been found guilty, Jimly replied: "Yes, of course." Speaking to reporters after he was questioned by the panel on Friday, Anwar said he was ready for its decision. Defence Minister Prabowo Subianto named Gibran, the mayor of Surakarta, as his vice presidential running mate days after the decision.

Persons: Joko Widodo's, Gibran Rakabuming Raka, Anwar Usman, Jimly Asshiddiqie, Anwar, Jimly, Prabowo Subianto, Gibran, Stanley Widianto, Kate Lamb, Alison Williams Organizations: Defence Locations: JAKARTA, Surakarta

☆ Indonesian president breaks ground for airport in planned $32-bln capital
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Indonesia's President Joko Widodo takes the stage to speak about the planned new capital Nusantara, at Ecosperity Week in Singapore June 7, 2023. REUTERS/Edgar Su/File Photo Acquire Licensing RightsJAKARTA, Nov 1 (Reuters) - Indonesian President Joko Widodo broke ground on Wednesday for construction of several projects ranging from an airport, toll-road and hospital to a hotel in a planned new capital city, Nusantara. The 347-hectare (857-acre) airport is expected to be fully operational by December 2024, the president said, at a total cost of 4.2 trillion rupiah ($263 million). The government targets the second half of 2024 for an international hospital, built by Indonesian hospital chain Mayapada (SRAJ.JK), to become operational. The president said he would break ground on nine projects in December, but gave no details.

Persons: Joko Widodo, Edgar Su, Jokowi, Pakuwon, Agung, Ananda Teresia, Stefanno Sulaiman, Kanupriya Kapoor, Clarence Fernandez Organizations: Nusantara, REUTERS, Rights, Astra International, Thomson Locations: Singapore, Rights JAKARTA, Nusantara, Jakarta, Indonesia, Borneo, Balikpapan, Indonesian

☆ Once disgraced, Indonesian ex-general tipped for presidency after makeover
▼ + stars: | 2023-10-23 | by ( Kate Lamb | ) www.reuters.com time to read: +5 min

Indonesian Defence Minister Prabowo Subianto gestures while attending a meeting of his Gerindra Party, in Bogor, Indonesia August 12, 2022. "We are ready to move forward for Indonesia," Prabowo told a press conference. The former special forces commander has undergone a remarkable transformation since being appointed defence minister in 2019, cultivating a persona that is more charismatic statesman than fiery, pious nationalist, analysts say. An opinion poll published by Lembaga Survei Indonesia (LSI) this month showed Prabowo ahead of his two opponents with 34% support. It's a change from previous campaigns where we've seen nationalist populist Prabowo, and pro-Islamist Prabowo," said Ross Tapsell, from the Australian National University.

Persons: Prabowo, Willy Kurniawan, Prabowo Subianto, Joko Widodo's, Suharto, Lembaga Survei, Ganjar Pranowo, LSI's Djayadi Hanan, Jokowi, Prabowo's, Hashim Djojohadikusumo, Suharto's, Siti Hediati Hariyadi, we've, Ross Tapsell, Najwa Shihab, Shihab, Andreas Harsono, Ananda Teresia, Raju Gopalakrishnan Organizations: Indonesian Defence, Party, REUTERS, Rights, Defence, Pentagon, Australian National University ., Human Rights, Prabowo, Thomson Locations: Bogor, Indonesia, Rights JAKARTA, Jordan, United States, Papua, East Timor, Lembaga Survei Indonesia, Europe, Middle, Paris, Beijing, Indonesian, Jakarta

☆ Indonesia presidential candidate Prabowo picks Jokowi's son as running mate
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +3 min

Achmad Ibrahim/Pool via... Acquire Licensing Rights Read moreJAKARTA, Oct 22 (Reuters) - Indonesia's defence minister and presidential candidate Prabowo Subianto on Sunday announced incumbent leader Joko Widodo's eldest son as his running mate for next year's election. Speaking after a meeting of his party and its coalition partners, Prabowo told a press conference there had been an agreement to nominate him as presidential candidate and Gibran Rakabuming Raka as vice presidential candidate. Ganjar and Anies, both 54, had signed up for the race on Thursday, the opening day of registration for presidential candidates. Prabowo said he plans to register his candidacy to the election commission on Wednesday Oct. 25, which is the last day for registration. Reporting by Ananda Teresia and Stanley Widianto; Editing by Bernadette Baum and David HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Joko Widodo, Prabowo Subianto, Achmad Ibrahim, Joko Widodo's, Gibran Rakabuming Raka, Gibran, Prabowo, Ganjar, Anies Baswedan, Jokowi, Ananda Teresia, Stanley Widianto, Bernadette Baum, David Holmes Organizations: Gerindra, Sunday, Central Java, Indonesian Democratic Party of Struggle, Thomson Locations: Jakarta, Indonesia, JAKARTA, Central, Surakarta city

☆ Indonesia ex-agriculture minister named as graft suspect
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

South Sulawesi governor Syahrul Yasin Limpo is pictured before meeting with legislative members in Makassar, March 14, 2014. Syahrul Yasin Limpo, who resigned last week after KPK raids on his multiple houses and ministry, said via his lawyer that he will cooperate with the investigation. KPK named Limpo as a suspect for allegedly instructing two colleagues to force officials to pay him at most $10,000 in exchange for positions or participation in procurement projects at the ministry. Limpo is the sixth minister in Jokowi's cabinet to face corruption allegations. Earlier this year, authorities arrested the then communications minister on corruption charges.

Persons: Syahrul Yasin Limpo, Yusuf Ahmad, Joko Widodo's, KPK, Limpo, Johanis Tanak, Johanis, Jokowi, Ananda Teresia, Stanley Widianto, Michael Perry Organizations: REUTERS, Rights, Thomson Locations: Sulawesi, Makassar, INDONESIA, Rights JAKARTA

☆ Indonesia parliament committee approves higher 2024 budget of $216 bln
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

President Joko Widodo's budget for 2024, his final year in office, targets expenditure at 3,325.1 trillion rupiah ($216.27 billion), up 6.45% from 2023's outlook to account for higher energy subsidies amid rising global oil prices. The fiscal budget proposal was approved by the budget committee chaired by Said Abdullah. Finance Minister Sri Mulyani Indrawati highlighted the risk of rising global crude oil prices to the budget next year. The committee approved a revision to the total energy subsidies by about 2% higher to 189.1 trillion rupiah versus 185.9 trillion rupiah in the initial proposal. For 2024, the budget assumes a lower inflation at 2.8% versus 3.1% in 2023'outlook and a slightly higher economic growth at 5.2% compared to 5.1% in the 2023's outlook.

Persons: Joko, Said Abdullah, Sri Mulyani Indrawati, Sri Mulyani, Josua Pardede, Josua, Stefanno Sulaiman, Kanupriya Kapoor, Martin Petty Organizations: El, Finance, Bank Permata, El Nino, Thomson Locations: El Nino, JAKARTA, Indonesia's

☆ G20 New Delhi summit 2023: Which countries and leaders will attend?
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +5 min

A paramilitary soldier stands guard outside Le Meridien hotel during a rehearsal ahead of the G20 Summit in New Delhi, India, September 2, 2023. BRITISH PRIME MINISTER RISHI SUNAKSunak is expected attend the summit on his first official trip to India as Britain's prime minister. GERMAN CHANCELLOR OLAF SCHOLZScholz has said the upcoming G20 summit in India remains important despite the absence of Russia and China. SOUTH AFRICAN PRESIDENT CYRIL RAMAPHOSARamaphosa has expressed full support for India's G20 presidency while conveying his intent to attend the summit. BANGLADESH PRIME MINISTER SHEIKH HASINABangladesh Prime Minister Sheikh Hasina is likely to attend the G20 summit in New Delhi, according to Indian media reports.

Persons: Le, Adnan Abidi, JOE BIDEN Biden, Biden, XI, Li Qiang, Xi Jinping, Xi, VLADIMIR PUTIN, Sergei Lavrov, Vladimir Putin, Putin, JUSTIN TRUDEAU Trudeau, Ukraine's Volodymyr Zelenskiy, Zelenskiy, RISHI SUNAK Sunak, KISHIDA, ANTHONY ALBANESE, YOON SUK, YEOL Yoon, OLAF SCHOLZ Scholz, EMMANUEL MACRON, Modi, SAUDI ARABIA'S CROWN PRINCE MOHAMMED BIN SALMAN, CYRIL RAMAPHOSA Ramaphosa, TAYYIP ERDOGAN, ALBERTO FERNANDEZ Fernandez, BOLA TINUBU Tinubu, LUIZ INACIO LULA DA SILVA, URSULA VON DER, CHARLES MICHEL The, SHEIKH HASINA, Sheikh Hasina, ANDRES MANUEL LOPEZ OBRADOR, JOKO, Aftab Ahmed, Shivangi, Nick Macfie Organizations: REUTERS, Criminal Court, ICC, BRITISH, AUSTRALIAN, SOUTH, Associated Press, SAUDI ARABIA'S CROWN, African Union, NIGERIA'S, LUIZ INACIO LULA DA SILVA Brazil, OF, EUROPEAN, CHARLES MICHEL The European Union, BANGLADESH, Thomson Locations: Le Meridien, New Delhi, India, DELHI, India's, Ukraine, U.S, RUSSIAN, Russia, South Africa, Africa, Indonesia, Philippines, China, Saudi, SHEIKH HASINA Bangladesh, Bangladesh, MELONI Italy

☆ Indonesia is moving its capital from Jakarta to Nusantara. Here's why it won't be so easy
▼ + stars: | 2023-08-28 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +9 min

Adek Berry | Afp | Getty ImagesIndonesia has ambitious plans to relocate its capital from Jakarta to Nusantara in East Kalimantan. Nusantara National Capital Authority, a government agency charged with planning and constructing the new capital, did not immediately respond to CNBC's request for comment. The new Presidential Palace under construction at the country's new capital Nusantara. Bloomberg | Bloomberg | Getty ImagesA lack of demand for service-led jobs is another challenge Archer predicted. Bloomberg | Bloomberg | Getty Images

Persons: Adek Berry, Joko Widodo's, Melinda Martinus, Martinus, Ju Ye Lee, Bagus Saragih, Agung Wicaksono, it's, Wicaksono, Bruno Lanvin, Joko Widodo, Diane Archer, Archer, Lanvin, Maybank's Lee Organizations: Nusantara, Afp, Getty, Indonesia, Cultural Affairs, Yusof, CNBC, Nusantara National Capital Authority, country's Ministry, Public, Agung Wicaksono Nusantara National Capital Authority, Maybank Investment Banking Group, Smart, IMD Business School, Bloomberg, Ciputra, Stockholm Environment Institute, Nusantara . Bloomberg Locations: Jakarta, Nusantara, East Kalimantan, Indonesian, Indonesia, Singapore, Agung Wicaksono, Asia, Pacific, Nusantara ., Stockholm, Diane Archer Stockholm, Kalimantan

On a quarterly, non-seasonally adjusted basis, GDP expanded 3.86%, compared with the poll's prediction of 3.72% growth. Meanwhile, exports contracted 2.75% in the second quarter on a yearly basis, in stark contrast to last quarter's growth of more than 10%. Myrdal Gunarto, economist with Maybank Indonesia, said he might raise his bank's full-year 2023 GDP growth outlook of 5.05%, but described the second quarter data as "a sign that economic activities had peaked". The better-than-expected data may spur monetary policymakers to shift their focus from growth to the current account, as strong domestic demand typically leads to rising imports, said Fakhrul Fulvian, economist with Trimegah Securities, who maintained his full-year 2023 GDP growth outlook at 5%. The government is targeting the same growth rate for 2023.

Persons: Eid, Joko Widodo's, Myrdal Gunarto, Myrdal, Fakhrul Fulvian, Radhika Rao, Stefanno Sulaiman, Fransiska Nangoy, Gayatri Suroyo, Martin Petty, Sonali Paul Organizations: Asia's, Statistics, Reuters, Maybank, Trimegah Securities, U.S ., Bank, DBS Bank, Thomson Locations: JAKARTA, Statistics Indonesia, Maybank Indonesia, Indonesia, Bank Indonesia

☆ Indonesia plans incentives for EV makers, sets up meeting with BYD, Tesla
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

Indonesia, the largest economy in Southeast Asia, has been trying to attract EV makers to invest in the country, enticing them with its rich nickel reserves - the world's biggest - which can be processed into EV batteries. However, some automakers like China's BYD have instead chosen to invest in Thailand, the region's automotive hub. "Tomorrow we are going to finalise incentives that we are going to give to any EV investment in Indonesia," Luhut said, adding they were awaiting President Joko Widodo's approval. Indonesia has been wooing Tesla for years, hoping to host an Asian production hub for the American EV maker. Tesla has been in talks with Indian officials for an investment in an EV factory there.

Persons: Pandjaitan, Luhut, Joko Widodo's, Elon Musk, Tesla, Ananda Teresia, Gayatri Suroyo, Kanupriya Kapoor Organizations: CNBC Indonesia, Maritime Affairs, Natural, EV, Thomson Locations: JAKARTA, Indonesia, Thailand, Vietnam, Southeast Asia, China's, Chengdu, California, United States, American

☆ Indonesia proposes demilitarised zone, UN referendum for Ukraine peace plan
▼ + stars: | 2023-06-03 | by ( Kanupriya Kapoor | Thomson Reuters | Edits Breaking News Across Southeast Asia Covers Longform Stories On Politics | ) www.reuters.com time to read: +2 min

SINGAPORE, June 3 (Reuters) - Indonesia's defence minister on Saturday proposed a peace plan for the war in Ukraine, calling for a demilitarised zone and a United Nations referendum in what he called disputed territory. He proposed a multi-point plan including a ceasefire "in place at present positions of both conflicting parties" and establishing a demilitarised zone by withdrawing 15 kilometres (nearly 10 miles) from each party's forward position. "We cannot stop supporting militarily Ukraine because we don't want the peace which is ... the peace of the surrender. Ukrainian President Volodymr Zelenskiy has proposed a 10-point peace plan, which calls on Russia to withdraw all its troops from Ukraine. Chief diplomatic adviser Ihor Zhovkva said Ukraine had no interest in a ceasefire that locks in Russian territorial gains.

Persons: Subianto, Prabowo, Joko Widodo's, Josep Borrell Fontelles, Borrell, Volodymr Zelenskiy, Ihor Zhovkva, Kanupriya Kapoor, Gerry Doyle Organizations: United, United Nations, UN, Union's European Commission, Ukraine, Thomson Locations: SINGAPORE, Ukraine, United Nations, Singapore, Russia, Moscow, Kyiv

☆ Indonesia communications minister arrested for graft
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, May 17 (Reuters) - Indonesian authorities on Wednesday arrested a senior cabinet minister on corruption charges in a case they said caused more than half a billion dollars in state losses. Johnny G. Plate is the fifth minister in President Joko Widodo's administrations to be charged with corruption. Johnny was arrested "as a user of the budget and as a minister", said AGO official Kuntadi, without detailing the minister's specific role. Another official Ketut Sumedana said the minister allegedly violated Indonesia's corruption law, which carries a maximum life sentence. According to global graft watchdog Transparency International, Indonesia dropped four points on its corruption perception index last year to 110 out of 180 countries.

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