by Teuvo Tuomi | Jan 20, 2025 | Economy, Equality, Indonesia, News, Reports
Indonesia has a historically low poverty rate, according to the latest survey conducted by Statistics Indonesia (BPS). However, inequality has worsened. The poverty rate for September was at 8.57%, the first time the indicator has ever dropped below 9%. “This is the...
by Teuvo Tuomi | Jan 17, 2025 | Indonesia, Investment, News, Reports, Technology
Indonesia’s standard VAT rate rose to 12% in January. This adjustment targets luxury goods and services while maintaining exemptions for essentials like staple foods and healthcare. For businesses, this change represents both a compliance challenge and an opportunity...
by Teuvo Tuomi | Jan 9, 2025 | Economy, Indonesia, News, Southeast Asia
To bolster its economy, Indonesia has joined the BRICS economic alliance, founded by Brazil, Russia, India, China, and South Africa. This development coincides with President Prabowo Subianto’s ambitious target of achieving 8% GDP growth. As Jakarta aligns itself with...
by Teuvo Tuomi | Dec 18, 2024 | Business, Indonesia, Investment, News, Reports, Visas
Indonesia’s new Golden Visa scheme has not brought as much investment into the country as hoped, according to the year-end report from the Directorate General of Immigration. “The investment is Rp 9 trillion (US$561.7 million) as of the end of this month,” the...
by Teuvo Tuomi | Dec 16, 2024 | Indonesia, News, Reports, Trade
Indonesia’s exports exceeded imports in November. This resulted in the second largest trade surplus since the government lifted the COVID-19 pandemic status in 2023. The country’s trade balance was US$4.42 billion in November, according to Statistics Indonesia...
