The government has opted for a far lower target of between 17 and 19 percent by 2025, adding that Indonesia needed to be more realistic on what it could achieve. 

The entertainment industry is up in arms against the increased tax of 40-75 percent for certain services, saying it was out of reach for some businesses that could be forced to shut down, leaving room for illegal businesses to thrive.

The OJK's stricter capital rules could lead to a flurry of consolidation among regional banks under a parent bank this year, though the Asbanda chair has cautioned that a BPD was not necessarily a troubled bank if it did not meet the Rp 3 trillion core capital requirement.

While the three presidential candidates all agree that Indonesian agriculture needs reforming, they propose different ways to achieve this.

Presidential candidate Ganjar Pranowo has suggested devising a key performance index (KPI) for ministers involving public input. Experts called this a valid idea but said politics would get in the way.

The IHSG declined by 0.10 percent to close at 7,219.96 on Thursday. Factors like geopolitical tension and domestic retail sales contributed to the market movement.

The United Kingdom’s recently appointed Ambassador to Indonesia and Timor-Leste Dominic Jermey has said the UK will not urge Indonesia to pick sides as Western countries and China drift apart.

The state-run Financial Transaction Reports and Analysis Center (PPATK) has identified suspicious transactions in key public infrastructure and industrial projects linked to civil servants and politicians.

Between 2015 and 2018, SAP arranged for bribes to be paid to Indonesian officials to obtain government contracts including with the fisheries ministry and the Telecommunications and Information Accessibility Agency (BAKTI), US court filings said.

Experts opined that building a vast concrete wall without addressing the root causes of land subsidence would not solve the region's problems.

A government official warns that successfully exploiting such links would be difficult due to distance and technological barriers.

The economic teams of all three presidential candidates have told an Apindo event that a gradual approach to achieving the local content target would help boost economic growth, downstream development and investments.

Jokowi said that salary increases for military and police personnel and civil servants were dependent on fiscal and economic conditions.

Experts warned that Prabowo's view implied a lack of understanding, which could risk the country’s fiscal sustainability if left unchecked.

Following a relatively successful 2023 in terms of biodiesel absorption, the government has revised up this year's B35 biodiesel quota by 2 percent to 13.41 million kL.

The Indonesian Palm Oil Association (GAPKI) and palm oil smallholders have protested the use of "palm oil-free" labels, while Trade Ministry regards the label as a negative campaign against food products containing palm oil.

All the candidates share a common plan to establish a new state revenue agency that requires the Finance Ministry to spin off and combine two of its revenue arms, namely the tax and customs and excise offices.

The Indonesian Dairy Cooperatives Association (GKSI) wants the government to bear most of the cost of importing cattle.

Indonesia’s subsidy program for electric motorcycles missed the mark last year, falling far short of its ambitious goal with only 11,532 units purchased out of the 200,000 targeted.

Industry Minister Agus Gumiwang Kartasasmita said the disciplinary action would vary depending on the results of the ongoing investigation.

The Trade Ministry aims to conclude agreements with a range of countries this year in its endeavor to diversify trade relationships.

The move seen by environmental groups as failure to held polluters accountable and risked leaving damaged lands in other areas unattended.

Indonesia posted the lowest budget deficit in years, but experts say the smaller-than-planned gap between state revenue and state expenditure also means the government could have done more to support economic growth.

Indonesia is aiming to reduce its reliance on gas imports by building natural gas distribution networks throughout the country.

Following a so-called transition period of five years, the government has kicked off 2024 by imposing a 10 percent e-cigarette tax, sparking opposition from industry players.

Having more stations will lead to a longer overall travel time due to additional stops, experts warn.

People living in the city and its surroundings will likely remain reliant on private vehicles, experts say, citing an urgent need for a drastic improvement of the public transportation system.

As the police revise the death toll from the Morowali nickel smelter furnace explosion on Christmas Day, the government is increasing scrutiny of work safety amid calls for regular audits.

The government expects an uptrend in underground mining to take hold in the country as surface mineral reserves continue to decline.

According to experts, implementing carbon capture and storage (CCS) in Indonesia within five years will be challenging because of the high costs of the novel technology and low expectations for scaling up.