TheJakartaPost
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The proposal to establish a family office, a private investment entity, from National Economic Council (DEN) head Luhut Binsar Pandjaitan has recently returned to the public spotlight after Finance Minister Purbaya Yudhi Sadewa rejected the use of the state budget (APBN) to fund the venture. Purbaya said the family office project must be developed entirely through DEN's own resources, emphasizing that the Finance Ministry had no role in designing or planning the project. Luhut responded by pointing to a misperception regarding the proposal, clarifying that the planned project had nothing to do with the state budget. Details of the initiative remain vague, however, so it is uncertain how the new entity will be structured and financed.
The government has set its sights on turning Bali into a global financial hub as it seeks to move forward with the family office plan thought up by the previous presidential administration, but there are doubts as to whether the resort island is cut out for such a role.
Citing the results of a macroeconomic analysis on Indonesia's reduced tariff rate of 19 percent, the DEN chief says Jakarta's new trade deal with Washington will help boost employment, welfare and labor-intensive industries to encourage more foreign investment and boost the overall economy.
Speculation continues to mount over the health of former president Joko “Jokowi” Widodo as government officials remain tight-lipped and offer little clarity about the medical care typically extended to former heads of state.
The government plans to push up the poverty line in a move that would bring Indonesia’s measure closer to that of the World Bank, even though that could be politically risky, as it would categorize more people as poor.
