Bottoming out or a dead cat bounce? (3)
Composite index of IDX (IHSG/JCI) ended lower by 0.28% on Thursday (Jun 11) as some investors realized gains from two consecutive days of rally. Net sell by foreign investors also dropped to US$14.05 million, the lowest in the past few trading days, while external pressures on rupiah eased off.
Retail sales data
Indonesia’s retail sales dropped 3.7% year-on-year in April 2026, reversing a 3.4% growth in the previous month, a survey from Bank Indonesia found. The survey suggested another contraction in May, but slower (-3.2%) than April.
National healthcare access at risk
BPJS Kesehatan is reportedly facing a monthly deficit of Rp 2 trillion. This situation could push the national health insurance system toward default by July 2027 if left unaddressed. The warning has sparked public concern, not only about the future of healthcare access but also about who has to shoulder the burden. Will the government step in, or will the cost ultimately fall on the millions of Indonesians who depend on the system?
Update on DSI case
The decision by police to name a former senior official of the Financial Services Authority (OJK) as a suspect in the PT Dana Syariah Indonesia (DSI) case marks a turning point in one of largest fintech scandals. What initially appeared to be another failed investment platform is increasingly revealing itself as a much deeper crisis of governance, oversight, and public trust.
From “Indonesia Gelap” to “Sell Indonesia”
The planned protest by the University of Indonesia Student Executive Board (BEM UI) against the Free Nutritious Meals (MBG) program this week should not be viewed merely as another campus demonstration. Nor should it be reduced to a debate about school meals. What deserves closer attention is the broader sentiment that appears to be emerging beneath the surface: a growing unease among students about the direction of public policy, economic priorities, and the country’s future trajectory.
Who has denied — and who has not? MBG corruption scandal
Former National Nutrition Agency (BGN) deputy chief Sony Sonjaya has applied for justice collaborator status and reportedly provided investigators with more than 20 names—eventually growing to 26 names—from executive, legislative, and judicial circles whom he claims are connected to the case. Sony’s lawyer says the list is only a partial disclosure and that additional names may emerge in future examinations.
Disruptions from Koperasi Merah Putih
A friend, senior executive in one of the largest business groups, was in two villages in Central Java this week to study operations of Koperasi Merah Putih (KDMP), the village cooperatives program from Prabowo administration, which is widely criticized for its development and governance.
Bottoming out or a dead cat bounce? (2)
Composite index of IDX (IHSG/JCI) advanced 2.7% Wednesday (Jun 10), while rupiah appreciated to below Rp18,000 per US dollars. Foreign investors, interestingly, continued selling Indonesian equities. Are the stocks and rupiah bottoming out?
MBG’s Discontented Partners
The removal of BGN’s three original leaders has had the effect of a dam breaking. MBG partners have begun speaking out one by one, bringing with them a list of complaints that expose the program’s weaknesses people could only suspect before. Unlike criticism from the...
Trade Minister Regulation No 19/2026 & The digital economy
Newly issued Trade Minister Regulation (Permendag) No. 19/2026 signals a major shift in how the government views the digital economy. What began several years ago as an effort to regulate e-commerce and social commerce has evolved into something much broader: direct intervention in platform pricing, algorithmic rankings, cross-border trade, and even artificial intelligence.