14 June 2022 (closed)
Jakarta Composite Index (7,049.88) +54.44 +0.78%
USD/IDR (14,146) -6.00 -0.04%
EUR/IDR (17,335) +57.05 +0.33%
What marked the year 2019 for Indonesia was national politics. Although in these present times each year feels like a ‘political year’ for Indonesia – as the country’s local elections are spread out across years (and in 2020 it will be the turn of voters in various parts of the Archipelago to elect nine governors, 224 regents and 37 mayors) – the year 2019 was in fact a particularly ‘huge political year’ for Indonesia because of the (general) presidential and legislative elections that were held on 17 April 2019.
Just like five years earlier, Indonesia’s 2019 presidential election was a close race between Joko Widodo and Prabowo Subianto; two men who – in many ways – are the complete opposite of each other.
And just like Indonesia’s presidential election in 2014, the 2019 edition was a divisive one for the Indonesian people as the two candidates are seen taking the nation into quite different directions: Subianto is perceived as the strong leader who can guide the government back to a (modern version of a) ‘New Order-ish’ regime, while Widodo is regarded the more forward-looking character embracing globalization (and accepting the growing impact of foreign influences on the Indonesian economy and society as a result of globalization).
Read the full article in the December 2019 report
This article discusses:
• The divisive political year of 2019
• Rising influence of Islam on Indonesian politics
• Stabilizing political landscape - and the positive impact on the investment environment - after the election result and after new cabinet line-up
• Are the new omnibus bills a solution?
• The challenging global political and economic environment that impacts negatively on the Indonesian economy
• Is economic growth around 5% the 'new normal' for Indonesia?
• What are the 'things to watch' in 2020 (because they can impact on the business and investment environments of Indonesia)?