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Latest Reports Politics
In each November edition of our monthly report we cover the new minimum wages of Indonesia (that will kick in at the start of the next year). The main reason is that provincial leaders need to announce the level of minimum wage growth before the end of November. This year, the deadline was set on 21 November for the provincial minimum wages (and 30 November for minimum wages in the districts and cities).
On Tuesday 5 December 2023 Indonesia Investments released the November 2023 edition of its monthly report. The report informs readers on the latest - and in our opinion most relevant - economic, political and social developments in Indonesia.
On Tuesday 11 July 2023, Indonesia’s House of Representatives (or DPR) passed the Omnibus Health bill into law. The only two political parties (both opposition parties) that voted against this bill were the Democratic Party (PD) and Prosperous Justice Party (PKS). Main reasons behind their rejection involved the rushed deliberation, and the removal of mandatory government spending on the health sector.
Each quarter we present an update on the 2024 legislative and presidential elections of Indonesia. These elections are important as Indonesia is still a young democracy where policies can change rather suddenly and drastically.
On 6 July 2023 Indonesia Investments released the June 2023 edition of its monthly report. In the report we present a number of analyses of topics (all related to the economy, politics and social matters) that were relevant in Indonesia in the month of June 2023.
On 21 April 2023, just before the Idul Fitri celebrations started, the Chairwoman of Indonesia’s biggest political party (PDI-P), Megawati Soekarnoputri, announced that she decided to throw her support behind Central Java Governor Ganjar Pranowo as the party’s presidential candidate for the 2024 elections.
While the 2024 general elections of Indonesia (involving both the presidential and legislative elections) are scheduled to be held on 14 February 2024, we expect to see a growing focus on these approaching elections throughout 2023. The reason is that campaigning will kick off before the end of 2023 (namely on 28 November 2023).
On 5 January 2023, Indonesia Investments released the December 2022 edition of its monthly report. This report discusses and analyses a number of important economic and political topics (all related to Indonesia) that were relevant in the month of December 2022.
Considering the news seemed to have gone viral across the globe it is certainly worth devoting attention to Indonesia’s new Criminal Code (Kitab Undang-Undang Hukum Pidana, or KUHP). It is an important one because is the body of laws regulating how crimes are punished in Indonesia.
Those who closely follow Indonesian media should have noticed that there has been an increase in coverage of the approaching 2024 presidential election. This involves articles and analyses of the electability of certain political persons (including polls and surveys) but also articles that we consider (hidden) marketing.
Latest Columns Politics
At 14:00 pm local Jakarta time zone, Indonesia’s Constitutional Court (Mahkamah Konstitusi) is expected to announce its decision on Prabowo Subianto’s election result challenge. The defeated presidential candidate filed a court case claiming that massive fraud and violations took place amid the voting and counting processes in the context of Indonesia’s July 2014 presidential election, won by Joko Widodo (securing 53.15 percent of the votes). Although the court’s decision is final and legally binding, Subianto not expected to surrender yet.
Recent elections in Indonesia have met with a great deal of attention and look to be a decisive moment for the country. We are looking at a country that has major financial problems and also is making a decision about the direction of its democracy. Prabowo Subianto has pledged to conduct a rollback in some of the aspects of Indonesia’s democracy. So the supporters of Indonesian democracy will be watching very closely to see how the recent election events will unfold.
As had been predicted previously by various popularity surveys, the outcome of the Indonesian presidential election, a race between Joko Widodo (known as Jokowi) and Prabowo Subianto, was close. In fact, after the unofficial yet reliable quick count results had been collected, both camps claimed a victory. However, the majority of the quick count results show a Jokowi victory with a margin of about five to six percentage points. On 22 July 2014, the Indonesian General Elections Commission (KPU) will announce the official result.
The result of Indonesia’s presidential election (scheduled for 9 July 2014), which has become a tight race between Prabowo Subianto and Joko Widodo (Jokowi), will for sure have a large impact on foreign investors’ confidence in Indonesian politics and the economy. A few weeks ago, a survey of Deutsche Bank showed that a majority of respondents (consisting of foreign investors) intend to sell their Indonesian assets if controversial candidate Prabowo Subianto will be elected. What are foreigners’ perceptions of a Subianto win?
Sunday evening (15/06), the second debate between Indonesia’s two presidential candidates - Prabowo Subianto and Joko ‘Jokowi’ Widodo - was held. This debate was broadcast live on various Indonesian television stations and - once again - managed to become a trending topic on social media. The debate, the theme of which was ‘development of the economy and social welfare‘, was characterized by a nationalistic and protectionist tone. This tone had already been set by Subianto in the past weeks but now Jokowi also stressed protectionism.
It had been speculated for a while, but yesterday the official declaration of Indonesia's presidential candidates and their running mates (the vice-presidential candidates) were presented. In the upcoming election, scheduled for 9 July 2014, Jakarta Governor Joko 'Jokowi' Widodo will face Prabowo Subianto, former army general and former son-in-law to president Suharto (Indonesia's second president), in a battle for the country's presidential seat. What is there to tell about this battle?
The week ended well for both the Indonesian rupiah exchange rate and the benchmark Jakarta Composite Index (IHSG). Based on the Bloomberg Dollar Index, the rupiah appreciated 0.30 percent to IDR 11,413 per US dollar at the end of Friday's trading day (16/05). Meanwhile, the IHSG surged 0.80 percent to finish just above the psychological level of 5,000 points. The good performance was supported by investors' positive response towards the latest political developments in Indonesia.
Joko Widodo, the presidential candidate of the PDI-P (Indonesia's current largest opposition party and which won the 2014 legislative election last April) may announce his running mate (the vice presidential candidate) on Wednesday (14/05). Newsportal Bisnis.com reported that Widodo, popularly known as Jokowi, hinted at this during a brief conversation between Jokowi and journalists on Monday. Names that are frequently mentioned in connection to the position of running mate of Jokowi are Jusuf Kalla and Abraham Samad.
Although several quick counts of today's legislative election in Indonesia still continue, the big picture is clear. The current opposition party PDI-P will win Indonesia's 2014 parliamentary election, followed by Golkar and Gerindra. This is no surprise as most surveys that were released ahead of the election indicated that these three political parties would be the major contenders. As a whole, the election went relatively smoothly, with only a few minor incidents. The official result will be announced on 9 May 2014.
On Wednesday 9 April 2014, the Indonesian electorate (consisting of about 190 million people out of a total population of around 250 million) will vote for both the country's national and regional legislatures. This legislative election also bears a big influence on the presidential election that is scheduled for 9 July 2014 as a minimum of 25 percent of the popular vote in the legislative election (or 20 percent of seats in the House of Representatives, DPR) gives a party the authority to nominate a presidential candidate.
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