According to data from the Finance Ministry, as of September, oil production stood at about 608,600 barrels per day (bpd). However, by the end of October, the energy ministry reported a decrease in production to 582,690 bpd. 

Indonesia’s annual economic growth rate has fallen below 5 percent for the first time since the coronavirus pandemic due to a slowdown in domestic spending and a reduced trade surplus.

Since the Indonesian Crude Price (ICP), an oil price benchmark used for budget calculations, is in US dollars, the cost of fuel imports is set to see a sharp spike. 

Indonesia’s financial sector is resilient enough not to buckle even under extreme scenarios for the global economy, according to the latest stress tests conducted jointly by Bank Indonesia (BI), the Finance Ministry, the Financial Services Authority (OJK) and the Deposit Insurance Corporation (LPS).

Japan has expressed the hope of expediting the development of the mass rapid transit (MRT) next year, according to the Office of the Coordinating Economic Minister.

Taxes play a vital role in the Indonesian national budget (APBN), contributing significantly to state revenues and supporting the development and welfare of the Indonesian population. In 2024, it is projected that tax revenue will reach approximately Rp 2309.9 trillion, representing an increase from the 2023 APBN target of Rp 2021.2 trillion.

Transportation Minister Budi Karya Sumadi visited on Oct. 3 the site of the Nusantara Capital City (IKN) Airport in North Penajam Paser regency, East Kalimantan province.

Construction has begun on the Nusantara Capital City (IKN) Airport with a groundbreaking ceremony officiated by President Joko “Jokowi” Widodo on Nov. 1 in North Penajam Paser regency, East Kalimantan.

Solving the problems of the Greater Jakarta light rail transit (LRT) is expected to go until late November, Deputy State-Owned Enterprises (SOEs) Minister Kartika Wirjoatmodjo told reporters on Wednesday.

Fed Chair Jerome Powell said the situation remained something of a riddle, with US central bank officials willing to raise rates again if progress on inflation stalls.

Japanese Prime Minister Fumio Kishida announced on Thursday a stimulus package worth $113 billion aimed at easing the pain from inflation.

Indonesia's 2045 development goal faces economic obstacles, but the government remains optimistic.

Rice contributed more than any other commodity to rising consumer prices in October.

Indonesian manufacturers have become less confident about business prospects, partly because of weak export orders, data published on Wednesday by S&P Global suggest.

The decision means Jakarta will not lay out a path to shut the so-called captive coal power plants in its comprehensive investment and policy plan (CIPP) that it needs to secure $20 billion in funding pledged under the Just Energy Transition Partnership (JETP).

The government has kickstarted the development of the Jakarta light rail transit (LRT) extension to Manggarai, South Jakarta, which is set to be completed in 2026.

The government is exploring cooperation with Chinese state-owned electricity utility State Grid Corporation of China (SGCC) to develop Indonesia’s electricity transmission grid network.

China's share of global manufacturing jobs will increase by 2050, according to a study out Monday, even as the United States and European Union aim to be less reliant on its products.

The Indonesian government expects a smooth and swift accession to the OECD, aiming for mutually beneficial cooperation.

Equities were mixed ahead of a Federal Reserve policy meeting this week, with traders fearing it will likely keep interest rates elevated for an extended period as inflation remains stubbornly high.

The documents reveal for the first time the breakdown of the $15.5 billion pledge that G7 countries and partners made in December to help the Southeast Asian manufacturing hub and heavy coal user reach net-zero emissions by 2050.

Interest rate hikes slow down inflation by raising the cost of borrowing from the bank, which dampens economic activity and weakens the labor market. 

China's aviation regulator said it will increase domestic flights to 34 percent above pre-pandemic levels, a move that will further boost the recovery of Chinese airlines.

Australia's trade minister says he is "hopeful" of striking a free trade deal with the European Union ahead of talks in Japan this weekend, more than five years after negotiations began.

Finance Minister Sri Muyani has increased the transfer of allocated funds to regions for the year of 2024. Under the new policy, the funds will amount to Rp 857.59 trillion (US$54 billion), an increase from the Rp 814.72 trillion allocated this year.

Finance Minister Sri Mulyani said the realization of debt financing stood at Rp 198.9 trillion as of September due to a surplus in the national budget.

The government projects continued growth to the end of the year, after the economy grew over 5 percent in the first half of 2023.

Officials from the United States and Indonesia discussed cooperation plans related to critical minerals, cyber and maritime security and semiconductors in Washington on Monday local time.

Indonesia’s national economic growth has continued its positive trend despite a global economic slowdown, growing above 5 percent for seven consecutive quarters.

President Joko “Jokowi” Widodo promised a more even economic development throughout the country prior to assuming office, but data suggest Indonesia’s easternmost provinces are still left behind.