On Sunday 5 November 2023 Indonesia Investments released the October 2023 edition of its monthly report. The report informs readers on the latest - and in our opinion most relevant - economic, political and social developments in Indonesia.
What do we discuss in this October 2023 report?
Firstly, we were quite surprised to learn that Indonesian President Joko Widodo's son Gibran Rakabuming teams up with Gerindra Chairman Prabowo Subianto for the 2024 presidential elections. Gibran serves as Prabowo's vice-presidential candidate in the race.
Gibran's participation is controversial from a couple of respects: he is actually too young to join the race, but a last-minute Constitutional Court decision allowed him to join. Interestingly enough, the Chairman of the Constitutional Court is Gibran's uncle. Moreover, Gibran (and his father) are PDI-P members (the PDI-P being the country's biggest political party, based on the 2019 legislative elections). However, the PDI-P supports another presidential candidate in the race: Central Java Governor Ganjar Pranowo. And so, the decision to team up with Prabowo feels like a little coup, or at least, a stab in the back.
Besides this controversial development, we also discuss other matters related to the 2024 elections.
Secondly, we offer an analysis of various macroeconomic indicators that provide some interesting information about household consumption in Indonesia, such as retail sales, consumer confidence and car sales. Most of these indicators show a hiccup, which thus seemingly points at some slower economic growth in the second half of 2023.
Thirdly, we offer an in-depth analysis of hydro power in Indonesia. It is in fact the biggest source of renewable energy in Indonesia today. However, it rarely gets significant attention in national media.
As usual, the October 2023 also contains an analysis of other key topics, such as trade, inflation, the rupiah, monetary policy, and manufacturing.
The October 2023 report (an electronic report) can be ordered by sending an email to firstname.lastname@example.org or a message to +62.882.9875.1125 (including WhatsApp).
Price of this report: