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View all search resultsThe government says this year’s fiscal deficit may temporarily exceed the legal limit for the sake of maintaining economic growth should oil prices remain elevated for a prolonged period as the US-Israeli war on Iran rages on.
The government also set holiday bonuses for ride-hailing drivers with app-based companies agreed to provide a total of Rp 220 billion this year, double the Rp 110 billion distributed last year.
Though the Supreme Court's ruling against Trump's sweeping tariffs has left Jakarta with less clarity regarding the newly signed US-Indonesia ART, it has at least opened a door to the possibility of reworking the deal so its terms are fairer.
The government has issued a loosely-worded statement days ahead of the expected signing of a tariff agreement with the United States, following a weekend meeting at President Prabowo Subianto’s Hambalang estate in Bogor, West Java.
Economists interpret the rating agency’s latest assessment as a serious corrective signal, noting that a downgrade in Indonesia’s credit rating could sharply raise borrowing costs and pile pressure on the rupiah.
Coordinating Economy Minister Airlangga Hartarto says all negotiation points on a tariff deal with the United States have been agreed between the two sides, and all that is left is signing by the respective presidents, pending scheduling.
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