The planned increase in Indonesia’s value-added tax (VAT) rate from 11 percent to 12 percent could reduce the country’s gross domestic product (GDP) by Rp 21 trillion ($1.3 billion), an economist warned on Thursday.
Trade
Indonesia plans to form a state revenue ministry to improve revenue collection, Hashim Djojohadikusumo, brother and a close advisor of President Prabowo Subianto, said on Sunday, according to a report by news portal Detik.com.
A new agreement between the Northern Territory Government and the Republic of Indonesia will be aimed at establishing a strong framework for mineral supply chains.
Indonesia’s economy faces mounting pressure from Chinese imports, sparking discussions about protective tariffs and the need for stronger local industry support.
Two prominent Australian livestock exporting companies have formed a joint venture to supply dairy cattle to Indonesia, in alignment with newly elected President Prabowo Subianto’s free milk for school students program.
With 64 million MSMEs, spanning from agriculture to essential services, these businesses constitute 60.5% of Indonesian GDP and employ 97.0% of the workforce.
South-east Asia’s largest economy pushes foreign tech groups to invest locally or lose market access.
Indonesia is planning to import 1 million tons of rice no later than end-2024, according to Chief Food Affairs Minister Zulkifli Hasan on Monday.
What does Indonesian President Prabowo’s food self-sufficiency plan mean for Australian agriculture?
Australia’s agricultural sector will be keeping an eye on Indonesia and its new president, Prabowo Subianto, who surged to power with a number of food policies such as giving schoolchildren free meals and milk.
This policy brief discusses how Indonesia can enhance its trade policy by focusing on the Indo-Pacific region to strengthen its global economic position.
Jakarta is proposing 200 percent tariffs on Chinese goods, citing the United States’ policies as an inspiration.
Indonesia has formally requested to join the Trans-Pacific trade pact to widen its export markets, its chief economic minister said on Wednesday, according to a report by state news agency Antara.
Indonesia’s parliament on Thursday passed President-elect Prabowo Subianto’s maiden budget for 2025, with spending set at 3,621.3 trillion rupiah ($237 billion) and the fiscal deficit projected to be 2.53% of gross domestic product.
Last month, Bali’s provincial government announced US$20 billion ($29 billion) worth of investment had been secured for a rail project dubbed the Bali Subway.
Indonesia is intensifying its efforts to counter the European Union’s Deforestation-Free Regulation (UEDR), which aims to block products linked to deforestation from entering the European market.
President-elect Prabowo Subianto believes that Indonesia has the potential to become a global food exporter and a center of the world’s food supply chain.
