What do we discuss in this April 2024 edition?

Firstly, we present an article on the topic of Jakarta's future after the House of Representatives (DPR) approved a bill that regulates the position and role of Jakarta once it loses the title 'capital city' (as the capital is being moved from Jakarta to Nusantara in East Kalimantan).

Another important topic is that of Indonesia's (upstream) crude oil industry. Once this industry was a big money-maker for Indonesia but since the mid-1990s oil production in Indonesia has been in a state of structural decline (even turning the country into a net oil importer in the mid-2000s).

What is interesting is that the Indonesian government still fosters great ambitions for the oil industry as it wants its oil output to nearly double by 2030. This is in stark contrast to various developed nations that seek to cut their oil consumption.

We also present an in-depth analysis of the latest economic indicators of Indonesia. This helps us to set realistic GDP growth projects for Indonesia. And, indeed, our projection for Indonesia's Q1-2024 GDP growth was quite accurate. We revised our projection from 5.1 percent (y/y) to the range of 5.1-5.2 percent (y/y) in the April 2024 report, and indeed - one day later - Indonesia's Statistical Office (BPS) confirmed that Indonesia's official GDP growth rate came in at 5.11 percent (y/y) in Q1-2024.

Another topic discussed in our report involves the heavy volatility of the Indonesian rupiah and stocks in April 2024 as a consequence of Iran's attack on Israel and changing market perceptions about the timing of rate cuts in the United States.

For a full list of topics discussed, you can take a look at the table of contents in the link below.

For information about buying the April 2024 edition of our monthly report (an electronic report, PDF) -or to subscribe for a longer period- you can contact us through email and/or WhatsApp:

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