President Prabowo Subianto previously announced the plan as part of his administration’s economic stimulus package, which includes repairing 1,000 vessels of 30 GT and larger vessels of up to 2,000 GT for state-owned enterprises.

If passed in the coming days, the amendment would “effectively dissolve” the ministry and replace it with the new agency, although its duties would remain “largely the same,” the government stated.

Finance Minister Purbaya Yudhi Sadewa said on Friday he did not instruct state banks to raise their United States dollar deposit rate to 4 percent, and that the government was still considering what incentives to offer to bolster the domestic US dollar supply.

New regulation effectively designates state-owned electricity utility PLN as the sole aggregator for electricity imports and exports.

The proposal is part of a broader set of revisions to the SOEs Law, which is included in the 2025 Priority Legislative Program (Prolegnas).

The Finance Ministry has introduced a new subsidy scheme as the government struggles to make headway on its plan to build or renovate 3 million homes a year.

Minister Purbaya said he had also summoned e-commerce platforms, including Tokopedia and Blibli, urging them to prevent the sale of illegal cigarettes on their marketplaces.

The program, which aims to “link and match” new graduates with industries, will require a total budget of Rp 198 billion in its first stage of implementation.  

The Energy Ministry stated that the policy would be used only as a last resort, and only until the end of the year, if local fuel stocks of private retailers were critically low.

The House of Representatives has agreed on a key medium-term plan to shift the country’s growth strategy from debt-driven to revenue-driven.

It is part of the government’s broader economic package, its third this year, totaling Rp 16.2 trillion (US$974 million) and consisting of eight economic acceleration programs.

The Financial Services Authority’s (OJK) decision to simplify borrowing for micro, small and medium enterprises (MSMEs) is a calculated risk that requires stringent oversight to prevent a surge in bad loans.

The Trade Ministry has reinstated controls on ethanol imports to stabilize molasses prices and protect sugarcane farmers, while also issuing new rules on cassava to support domestic producers.

The agreement, to be signed in Bali, will bring Indonesia and the 27-member European bloc into closer economic ties.

Perpadi and expert observers point out that many rice millers have been unable to sustain operations as their margins narrowed due to delayed interventions and sweeping crackdownsm compounded by the State Logistics Agency (Bulog) continuing to stockpile grain at higher prices.

Calls for reform are being reinforced by Foreign Ministry warnings over a surge in cases involving migrant workers.

Even prior to Dony Oskaria’s appointment, analysts had suggested the removal of Erick Thohir could lead to the dissolution of the SOEs Ministry or its merger with Danantara.

The Financial Services Authority (OJK) has backtracked on plans to make cost-sharing mandatory in health insurance policies.

Spanning 2.5 million hectares across three national parks, the TRHS is a UNESCO World Heritage site recognized for its role in conserving biodiversity and protecting endangered species.

The government has said it will not renew the incentive scheme, which since 2024 has allowed automakers to import completely built-up (CBU) EVs without paying import duties, luxury tax or value-added tax (VAT).

Experts view the empty minister’s seat as evidence of the ministry’s waning purpose, as many of its former responsibilities have moved to Danantara, the country’s state asset fund now in charge of nearly 900 state firms.

Bank Indonesia (BI) has cut its benchmark interest rate in a surprising move hours before its United States counterpart is expected to reduce borrowing costs in the US as well.

The amount is contingent on the effective rollout of the Rp 130 trillion program budgeted by the state asset fund for microcredits in 2025, with just three months remaining for state lenders to disburse the loans.

The government's latest stimulus package must be managed efficiently and be supported with other policy measures that address deeper problems for long-term benefits, experts say.

Concerns about the independence of the central bank have been mounting following the announcement of a "burden sharing" deal that will see BI increase the interest it pays on government deposits to fund state programs.

Vietnam has asked the United States to reconsider a decision that could lead to a ban on some Vietnamese seafood exports to the American market starting next year, a potential blow to an economy already hit by US tariffs.

The Chinese market regulator's announcement comes as the US and China hold trade talks in Madrid, where chips, including the ones made by Nvidia, are expected to be on the agenda.

A newly issued regulation due to take effect in November formalizes the OJK's policy to boost loan disbursement for MSMEs through eased access as part of its credit flow revitalization strategy.

The government aims to encourage household spending and boost growth with a year-end stimulus package, the third such measure after those January and June.

Though the United States decided against deportation, images of the workers being chained and handcuffed during the raid caused widespread alarm in South Korea.