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Today's Headlines Joko Widodo

  • Joko Widodo: Indonesia Intends to Join Trans-Pacific Partnership

    Joko Widodo: Indonesia Intends to Join Trans-Pacific Partnership

    During his state visit to the USA, Indonesian President Joko Widodo told US President Barack Obama that Indonesia intends to join the Trans-Pacific Partnership (TPP) trade deal. Currently, 12 countries have joined the TPP, including the USA and Japan, thus creating the world's largest free trade area (an area that covers about 40 percent of world trade). By many analysts the TPP is regarded a counterbalance to the big economic influence of China.

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  • Economic Policy Package Indonesia: Bonded Zones & Import Tax Cut

    Economic Policy Package Indonesia: Bonded Zones & Import Tax Cut

    The second installment of Indonesia's September economic policy package, unveiled on Tuesday (29/09), received a warmer response from market participants compared to the first one (released on 9 September), evidenced by rebounding stocks and a stronger rupiah rate yesterday. Indonesia's latest policy package involves interest rate tax cuts for exporters, the speeding up of investment licensing for investment in industrial estates, and a relaxation of taxes on imports of capital goods in industrial estates and in the aviation industry.

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  • President Joko Widodo to Announce Second Economic Policy Package Tomorrow

    President Joko Widodo to Announce Second Economic Policy Package Tomorrow

    Indonesian President Joko Widodo, often called Jokowi, is set to announce the second economic policy package on Tuesday (29/09) at the State Palace in Jakarta according to Indonesian Chief Economics Minister Darmin Nasution. Reportedly, the second package will focus primarily on boosting the competitiveness of Indonesian exports and the attractiveness of Indonesia as an investment destination.

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  • Indonesian Currency Update: Rupiah Weaker ahead of Federal Reserve Meeting

    Indonesian Currency Update: Rupiah Weaker ahead of Federal Reserve Meeting

    Ahead of the Federal Open Market Committee (FOMC) meeting, the two-day policy meeting which starts today (16/09), the US dollar continues to appreciate against most currencies, including the Indonesian rupiah, as investors remain cautious ahead of a possible US interest rate hike. By 09:36 am local Jakarta time, the rupiah had depreciated 0.29 percent to IDR 14,450 per US dollar according to the Bloomberg Dollar Index, a fresh 17-year low.

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  • President Joko Widodo Unveils Indonesia’s 1st Economic Policy Package

    President Joko Widodo Unveils Indonesia’s 1st Economic Policy Package

    On Wednesday afternoon, Indonesian President Joko Widodo unveiled some details of the new economic policy package, involving major deregulation measures, that had been announced last week by Chief Economics Minister Darmin Nasution. This package aims - on the medium to long term - to boost Indonesia’s sluggish economy.

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  • Indonesia Cancels Jakarta-Bandung’s High-Speed Train Project

    Indonesia Cancels Jakarta-Bandung’s High-Speed Train Project

    Indonesia has cancelled further development of the multi-billion high-speed railway between the capital city of Jakarta and Bandung (West Java) as President Joko Widodo decided that Indonesia does not need a train that can reach speeds of over 300 km per hour on the relatively short route (150 km) between both cities. Besides the short distance, there will also be around 14 stations constructed between both terminal stations, implying that the train needs to hit the brakes before it can reach its maximum speed.

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  • Boosting Economic Activity in Indonesia: Stimulus Package to See Daylight this Month

    Boosting Economic Activity in Indonesia: Stimulus Package to See Daylight this Month

    The government of Indonesia is still busy preparing the policy package that was announced last week by Chief Economics Minister Darmin Nasution. Earlier it was reported that this stimulus package, expected to be finalized this month, involves deregulation and tax holidays designed to boost economic activity in Indonesia as well as to attract foreign currency inflows. The government will also look at how it can provide incentives to accelerate smelter development in Southeast Asia’s largest economy.

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  • Indonesian Language Proficiency Requirement for Foreign Workers Scrapped

    Indonesian Language Proficiency Requirement for Foreign Workers Scrapped

    Several weeks ago it had already been reported that Indonesian President Joko Widodo requested Manpower and Transmigration Minister Hanif Dhakiri to revise a draft regulation (made in 2013) that forces expats to pass a mandatory Indonesian language proficiency test in order to be eligible to obtain a work permit. According to Widodo this regulation jeopardizes the attractiveness of Indonesia’s investment climate.

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  • No Indonesian Language Proficiency Test for Foreign Workers in Indonesia

    No Indonesian Language Proficiency Test for Foreign Workers in Indonesia

    Indonesian President Joko Widodo wants to drop the regulation that states a foreign worker needs to learn Indonesian. Today (21/08), Cabinet Secretary Pramono Anung said President Widodo (often called Jokowi) requested Hanif Dhakiri, Indonesian Minister of Manpower and Transmigration, to revise this regulation (that was issued in 2013). According to Jokowi the language proficiency requirement would make Indonesia’s investment climate less competitive and could therefore hamper much-needed investment.

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  • Joko Widodo Presents Indonesia’s 2016 State Budget Draft in Parliament

    Joko Widodo Presents Indonesia’s 2016 State Budget Draft in Parliament

    On Friday (14/08) the Indonesian government unveiled its 2016 State Budget draft at a session in the House of Representatives (DPR). The draft is important as it shows government targets regarding the macroeconomy of Indonesia and it shows on what fields the government will focus in terms of public spending. The government - led by Indonesian President Joko Widodo - is optimistic that economic growth will finally rebound after four years of slowing economic growth as its 2016 GDP growth target was set at 5.5 percent (y/y).

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Latest Columns Joko Widodo

  • Jokowi Candidate for Indonesian Presidency; Markets React Positively

    Jokowi Candidate for Indonesian Presidency; Markets React Positively

    After months of uncertainty and speculation, Governor of Jakarta Joko Widodo (popularly known as Jokowi) has finally declared to run for the Indonesian presidency in the presidential election scheduled for 9 July 2014. Jokowi is backed by the Indonesian Democratic Party of Struggle (PDI-P), one of the largest political parties in Indonesia, led by chairwoman Megawati Sukarnoputri. On Friday (14/03), Megawati released a statement in which she announced to fully support Jokowi in the upcoming elections.

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  • Indonesian Rupiah Exchange Rate's New Equilibrium at IDR 11,000?

    Indonesian Rupiah Exchange Rate's New Equilibrium at IDR 11,000?

    Coordinating Minister for Economic Affairs Hatta Rajasa said that the rupiah exchange rate's new equilibrium is at IDR 11,000 per US dollar. As the economic fundamentals of Indonesia's economy have improved in recent months - evidenced by the easing current account deficit and inflation - the rupiah has shown a strong performance, appreciating around six percent against the US dollar in 2014 (year to date). In fact, Rajasa warned that the rupiah should not strengthen too much as this impacts negatively on Indonesia's trade balance.

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  • Can Joko Widodo Accelerate the Democratization Process in Indonesia?

    Can Joko Widodo Accelerate the Process of Democratization in Indonesia?

    With Indonesia's presidential election approaching (9 July 2014), investors - both domestic and foreign - have become more hesitant to commit to large investments, instead preferring to wait for the election results first. Obviously, investors want to see a 'market friendly' president to lead Southeast Asia's largest economy for (at least) the next five years; a ruler who can safeguard a conducive investment climate. For the Indonesian people, a just ruler is needed; one who can improve Indonesia's political and social issues.

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  • Analysis of Indonesia's Rupiah Rate: Improvement in Second Half 2014?

    Analysis of Indonesia's Rupiah Exchange Rate: Improvement in Second Half 2014?

    In the Bloomberg Dollar Index, Indonesia's rupiah exchange rate depreciated 0.47 percent to IDR 12,238 per US dollar on Monday (27/01). The decline of the rupiah was in line with today's trend of weakening Asia Pacific currencies (against the US dollar). Meanwhile, the central bank's mid rate (the Jakarta Interbank Spot Dollar Rate or JISDOR) depreciated 0.17 percent to IDR 12,198 per US dollar. Market participants are concerned about Indonesia's January 2014 inflation and further Federal Reserve tapering.

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