With only one more day to go before the General Elections Commission (KPU) will release the official result of the July 2014 presidential election, it seems almost certain that it will take a Constitutional Court ruling for the final judgement. Over the weekend, data from KPU indicates that Joko Widodo has won the election by a margin of about five percentage points. However, his rival Prabowo Subianto has already stated that he will challenge the result as he claims that there are indications of fraud at several polling stations.

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Indonesian president Susilo Bambang Yudhoyono, who will end his second and final five-year term in October 2014, announced to meet both presidential candidates (Prabowo Subianto and Joko Widodo) in the country’s State Palace on Sunday (20/07). In this meeting, president Yudhoyono will emphasize the importance of a peaceful and orderly transition to the next government. Currently, it remains unknown who of the two candidates won the presidential election (held on 9 July 2014). Due to the tight race, chances of social unrest increase.

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Global real estate services firm Jones Lang LaSalle expects condominium sales in Indonesia to post a record-breaking figure in 2014, particularly supported by the current trend in Jakarta (Indonesia’s capital city) where people continue to shift to apartment living instead of detached or attached single-unit housing. Anton Sitorus, head of research at Jones Lang LaSalle, said that despite the weaker outlook for Indonesia’s property market, both developers and buyers have shown increased interest in developing and buying property.

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Although investors in Indonesian stocks received positive news from the USA after Federal Reserve Head Janet Yellen stated on Tuesday (15/07) that the US economic recovery remains incomplete therefore justifying the continuation of a loose monetary policy for the foreseeable future as well as solid economic expansion of 7.5 percent (yoy) in China during the second quarter of 2014, the domestic political context in Southeast Asia’s largest economy remains a concern. What are the latest political developments in Indonesia?

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The US dollar continues to depreciate against emerging currencies after the minutes of the Federal Reserve’s latest FOMC meeting, released Wednesday (09/07), suggest that the US central bank will maintain historic low interest rates (0.0 - 0.25 percent) into 2015. The Fed informed that US interest rates hikes will only occur ”a considerable time” after the US asset-buying program (quantitative easing) has ended. Based on the latest minutes, this program is expected to end in October 2014.

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Although not all quick count scores indicate a Joko Widodo (Jokowi) win, Indonesia’s stock and financial markets have gained considerably on Thursday (10/07) - one day after the 2014 Indonesian presidential election - on speculation that the General Elections Commission (KPU) will declare Jokowi the winner of the election on 22 July 2014. Out a total of 12 quick counts (mentioned below), eight showed a Jokowi win. Importantly, these seven quick counts include the authoritative agencies that traditionally have been highly accurate.

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Since 07:00 am local time, Indonesians have been able to cast their votes for the country’s presidential election; a tight race between Joko Widodo and Prabowo Subianto. Despite the narrow gap between both presidential candidates (based on various surveys), the election has been conducted in good order so far. The polling stations will close at 13:00 pm local time. Hereafter, live quick count scores, which are traditionally quite accurate, will be presented. By approximately 17:00 pm local time, the quick counts are expected to be finalized.

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Today, the Indonesian people decide who will become the next president of the world’s largest archipelago for the period 2014-2019. The Indonesian electorate numbers about 185.6 million (out a total population of 250 million) and they have only two options to choose from: Joko Widodo (Jokowi) and Prabowo Subianto, which also implies that the election will only require one round. Voting starts at 07:00 am local time and the ballot boxes close at 13:00 pm local time. Indonesian financial markets are closed.

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Wednesday 9 July 2014, is a big day for Indonesia as on that day the Indonesian people will vote for the successor of incumbent Indonesian President Susilo Bambang Yudhoyono who had been given the mandate to lead two five-year presidential terms between 2004 and 2014 (and who is the only president in the era of Reformasi that was re-elected by the people). Now, the people have to choose between Joko Widodo (Jokowi), joined by running mate Jusuf Kalla, and Prabowo Subianto, who is joined by running mate Hatta Rajasa.

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After having seen his lead over rival Prabowo Subianto narrow considerably in recent months, the latest survey released by the Indonesia Survey Circle (LSI) today (07/07) indicates that presidential candidate Joko ‘Jokowi’ Widodo’s popularity has rebounded, although the race remains tight. According to the survey, Jokowi and running mate Jusuf Kalla secured 47.8 percent of respondents’ votes, slightly higher than their rivals Prabowo Subianto and running mate Hatta Rajasa at 44.2 percent.

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Indonesian President Joko Widodo kicked off his short European tour on Monday (18/04) in Berlin (Germany) where he met German Chancellor Angela Merkel. Bilateral relations between Indonesia and Germany are important because Germany is Indonesia's largest trading partner in the European continent and Indonesia's seventh-largest investor. Merkel praised Indonesia's economic development amid the complex context (having more than 255 million citizens and consisting of over 17,000 islands). Both state heads talked about strengthening existing partnership in vocational education in several sectors.

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Indonesian President Joko Widodo has ordered the nation's Minister of Environment and Forestry Siti Nurbaya to issue a moratorium on new palm oil concessions in a number of provinces. Although Widodo wants Indonesia - the world's top producer and exporter of crude palm oil (CPO) - to raise CPO output, he believes this increase can be achieved by increasing productivity of existing palm oil plantations, not by adding new plantations. Indonesia is often criticized by environmentalist groups for its forestry policies and poor law enforcement (which led to the severe haze that spread through Southeast Asia last year).

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Indonesian President Joko Widodo (Jokowi) called for an investigation into the Indonesian people and companies mentioned in the Panama Papers, the massive leak involving 11.5 million confidential documents from the database of Panama-based law firm Mossack Fonseca. These documents list names numerous people - including of political figures, businessmen, celebrities and sport stars - who have created secret shell companies and offshore accounts in tax havens (possibly in an effort to avoid tax obligations).

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Indonesian President Joko Widodo decided that the Masela liquefied natural gas (LNG) plant will be constructed onshore. Masela, located in the Arafura Sea (Moluccas), is Indonesia's largest deep-water gas project. Previously, Japan-based oil company Inpex Corp and Netherlands-based Royal Dutch Shell proposed to construct the LNG plant offshore (which would have made it the world's largest floating LNG plant). On Wednesday (23/03) President Widodo rejected the proposal after months of polemic. Contractors Inpex and Shell are not expected to withdraw from the project but will need time to adjust plans.

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Indonesian President Joko Widodo may visit the Netherlands in 2016. In an interview with Dutch newspaper "De Telegraaf" newly appointed Indonesian ambassador to the Netherlands Gusti Agung Wesaka Puja hinted at Widodo's visit to the Netherlands. Ambassador Puja informed further that more information about this possible state visit is to follow in the next couple of weeks. "You will be surprised," he was quoted saying. Reportedly, Bert Koenders, Dutch Minister of Foreign Affairs, will visit Indonesia in the next two weeks to prepare Widodo's visit.

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A new financial management system was launched in April 2015 by the Indonesian government. This new system, called Sistem Perbendaharaan dan Anggaran Negara (abbreviated SPAN), aims to enhance public efficiency, transparency and accountability in Indonesia by managing the financial transactions of more than 24,000 government spending units in all 33 provinces. According to a new World Bank story, Indonesia's new financial system has managed to improve efficiency, transparency and accountability. Moreover, it improves budget planning and spending.

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During Indonesian President Joko Widodo's visit to Googleplex, Silicon Valley (California) - headquarters of Google, Facebook, Twitter and Plug and Play - he emphasized that the government of Indonesia is committed to push for the development of the digital economy, aiming to make it the largest in Southeast Asia, worth USD $130 billion by 2020 (including the emergence of 1,000 Indonesian technopreneurs). In this context, Widodo also requested the assistance of Google, Facebook and Plug and Play in the form of IT development education.

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After having grown rapidly in the years 2010-2013, infrastructure development in Indonesia lost its momentum in 2014. This was due to limited available government funds, uncertainty caused by the legislative and presidential elections, and the nation's slowing economic growth. After Joko Widodo became Indonesia's seventh president in October 2014, it was expected that infrastructure development would revive. However, it didn't. But Widodo made one important move by seriously reducing energy subsidies, hence making more funds available for infrastructure development.

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In response to the ailing global economy, Indonesian President Joko Widodo has unveiled a new economic policy package that aims to boost economic growth of Indonesia amid a highly uncertain global context. On Wednesday (09/09), Joko Widodo (often called Jokowi) provided some details about the first phase of this new stimulus package during a speech at the State Palace in Jakarta.

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Indonesian President Joko Widodo (often called Jokowi) emphasized that the government of Indonesia needs to boost development of renewable energy. Although Indonesia contains huge potential for renewable energy (particularly geothermal energy), the share of renewable energy in Indonesia’s total energy use currently stands at around 5 percent only, the remainder being fossil energy. By providing incentives, attractive tariffs and an easier licensing and registration process, the government can generate more investment in this sector.

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