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Summary

In this briefing, President Prabowo Subianto shares key economic updates and policies aimed at strengthening Indonesia’s economy. The government has introduced a significant measure, requiring 100% placement of export revenue from natural resources into Indonesia's financial system. Additional measures include economic stimulus packages for Ramadan, adjustments to tariffs, and initiatives to boost local production. The government also aims to enhance food security, energy resilience, and national investments through BUMN consolidation. These policies aim to drive economic growth, maintain stability, and ensure prosperity for the Indonesian people despite global challenges.

Takeaways

• 😀 Indonesia's economy is stable, with inflation under control and growth above the global average despite global geopolitical uncertainty.
• 😀 The government is focusing on utilizing Indonesia's natural resources more effectively to strengthen national prosperity, including through increased export revenue and foreign reserves.
• 😀 A new regulation requires 100% of export revenue from natural resources to be placed in Indonesian banks for at least 12 months to enhance foreign reserves and stabilize the exchange rate.
• 😀 Exemptions apply to the oil and gas sector, but the government is strengthening policies for the management of natural resource export revenue.
• 😀 The Indonesian government expects the new regulation to add up to 80 billion USD in foreign exchange in 2025, potentially increasing to over 100 billion USD in the following year.
• 😀 The government is providing flexibility for exporters to maintain business continuity, allowing them to use export revenue for operational costs, tax payments, dividend payments, and procurement of raw materials.
• 😀 Several stimulus programs are planned for 2025, including price discounts for airfares, toll fees, and essential goods during Ramadan and Lebaran.
• 😀 The government will offer financial support packages like electricity tariff discounts, tax incentives for electric vehicles, and subsidies for sectors with high labor demand.
• 😀 The government is working to improve food security and energy sustainability through programs aimed at enhancing nutritional programs and agricultural productivity.
• 😀 Indonesia is progressing with international trade agreements, including joining BRICS, finalizing free trade agreements, and strengthening its economic ties with the European Union.

Q & A

What is the current state of Indonesia's economy according to the president?

The president mentions that Indonesia's economy is well-controlled, with low inflation rates, one of the lowest globally. The country's growth rate is expected to remain above the global average, and most sectors are functioning steadily despite global geopolitical uncertainties.

What is the government's stance on the utilization of natural resources in Indonesia?

The government aims to optimize the utilization of Indonesia's natural resources for the prosperity of the nation. This includes enhancing domestic investment circulation, increasing foreign exchange reserves, and stabilizing the exchange rate. Devisas from natural resource exports, which have been largely kept abroad, will now be managed domestically.

What changes does the government plan to implement in 2025 regarding foreign exchange from natural resource exports?

Starting in 2025, the government has mandated that 100% of foreign exchange from natural resource exports must be placed within Indonesia's financial system, particularly in designated accounts in national banks, to enhance the impact of the economy.

How does the government plan to support exporters during this transition?

Exporters will be allowed to use the foreign exchange placed in special accounts for specific purposes, such as converting to Indonesian Rupiah, paying taxes, dividend payments, purchasing goods and services, and repaying loans for capital goods.

What are some of the economic stimuli introduced by the government for 2025?

The government introduced several stimulus measures, including discounts on flight tickets and toll fees during Ramadan, subsidies for electricity tariffs, reduced taxes for purchasing properties and vehicles, and a special tax scheme for labor-intensive sectors.

How does the government plan to support food security and the agricultural sector?

The government has implemented a program providing free nutritious meals, expected to boost growth across rural areas. Additionally, the country aims to increase rice production, with reports of significant improvement in rice yields.

What is 'Danantara' and how does it contribute to Indonesia's economy?

'Danantara' is a national investment fund that consolidates the economic power of Indonesia's state-owned enterprises (SOEs). It aims to manage the wealth of the nation for the future, promoting long-term economic growth and stability.

What is the government's approach to inflation control in 2025?

The government is focusing on controlling inflation through various measures, such as subsidies for essential goods, including food and energy, and stimulating the economy with targeted tax reductions and infrastructure investments.

How is Indonesia engaging in international trade agreements?

Indonesia is working on joining BRICS, signing a Free Trade Agreement (FTA) to reduce tariffs with other nations, and progressing in negotiations for a comprehensive economic partnership with the European Union.

What is the significance of the new gold bank in Indonesia?

The gold bank, which will be inaugurated in February 2025, aims to facilitate the management of Indonesia's gold resources, which have previously been stored abroad. This initiative is expected to keep valuable assets within the country and strengthen the national economy.