Despite challenging circumstances that trigger capital outflows from emerging markets – mostly related to the ongoing tariff war between the United States and China, monetary tightening in developed nations, US President Donald Trump’s unpredictable style of leadership, and rising crude oil prices in the first three quarters of the year (that cause pressure on net oil importers) – Indonesia ended 2018 in good financial health.

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On Monday (07/01) Indonesia Investments released the December 2018 edition of its monthly research report. The report aims to inform the reader of the key political, economic and social developments that occurred in Indonesia in the month of December 2018 and also touches upon key international developments that impacted on the Indonesian economy.

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Indonesia is the world's largest archipelago. Due to the country's huge size it contains a high degree of diversity in terms of religion and traditional belief systems. Although Indonesia has a Muslim-majority population, it is a secular democracy with a constitution that guarantees all Indonesian citizens the freedom of worship, each according to his or her own religion or belief (this system does not function perfectly in reality, however). Still, it means that Indonesia contains many (mostly religion-inspired) public holidays on which the nation's financial markets are closed.

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As is widely known, especially to those who have visited certain beaches in Bali, Indonesia needs to combat water pollution, and specifically plastic waste. While local authorities on Bali announced earlier this week to enact a ban on single-use plastics, such as shopping bags, styrofoam food packets and straws (while Jakarta may follow suit), Indonesia's Industry Ministry expressed it opposes an earlier plan to impose an excise tax on plastic bags.

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