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View all search resultsThe government and economists agree that an increasingly protectionist US trade policy is weighing on Indonesia’s economic growth, but the full extent of the damage will depend on the final tariffs Washington imposes on goods from the archipelago and its trade partners.
The economic ministers of the ten member states explained that retaliation would not be beneficial as the US was Southeast Asia’s biggest source of foreign direct investment and second-largest trading partner in 2024. The US was also the bloc’s fifth largest trading partner in the same year.
The finance minister, a seasoned economist, has criticized Trump's tariff policy as devoid of any basis in economic science, while highlighting the resulting turmoil in global trade as presenting a fresh opportunity for Indonesia.
The Coordinating Economic Minister downplayed Tuesday's temporary plunge to a record low in a doorstep interview on Wednesday, saying that currency fluctuation was “normal” and pointing to external factors as the cause, without elaborating.
According to the National Nutrition Agency (BGN), which runs the free nutritious meal program, the new injection is expected to cover the cost of the full-scale program, estimated at Rp 25 trillion per month, once it launches in September
Speaking in a press briefing held in response to the recent slump in the stock market, Sri Mulyani said that she would continue leading the effort to manage state finances together with all staff in the Finance Ministry.
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