Defending manipulated stocks?

As predicted, composite index (IHSG) opened lower by 2.5% this morning due to correction in commodities-related stocks and the manipulated stocks. Some try to defend the inlated/manipulated stocks with share buyback program. Chandra Asri (TPIA), for example, set aside Rp2 trillion for the buyback, but at the same time issuing Rp2 trillion bonds.

Bracing for further corrections

Announcement from the Central Bureau of Statistics (BPS) about Indonesia’s GDP growth of 5.11% last year failed to cheer up market participants. Rupiah weakened further to Rp16,887 this morning after 0.39% correction yesterday. Composite index of Indonesia Stock Exchange (IDX)/IHSG also ended lower by 0.53%.

Regulating fees will not save e-commerce sellers

The government’s plan to regulate administrative fees charged to merchants on e-commerce platforms may sound like a pro-small business move. In reality, it risks repeating a familiar policy mistake: treating symptoms while ignoring the deeper structural problems of Indonesia’s digital economy.

Universal healthcare under pressure

Many beneficiaries of Indonesia’s health insurance contribution assistance scheme (PBI Jaminan Kesehatan) found their coverage abruptly deactivated without prior notice. Now they are forced to navigate a time-consuming re-registration process, even when they need immediate access to a medical treatment. BPJS Kesehatan (operator of the universal healthcare) attributes this issue to an update of the National Socioeconomic Single Data (DTSEN). But in a broader sense, it reflects the impact of shifting government priorities that quietly sacrifices non-priority programs in the name of fiscal reallocation.

When “abandoned land” becomes a policy weapon

Government Regulation (PP) No. 48/2025 on abandoned land is meant to send a clear message: concessions must be used productively, or they will be taken back by the state. On paper, the policy sounds logical. Idle land fuels speculation, distorts markets, and deprives the public of economic benefits. But in practice, the regulation risks turning into something far more dangerous: a blunt policy weapon that undermines legal certainty and scares away long-term investment.

Customs scandal that exposes systemic decay

The Corruption Eradication Commission’s (KPK) revelation that customs officials allegedly received up to Rp7 billion in monthly kickbacks is not merely another corruption case. It is a stark reminder that border control system—supposedly the frontline of economic sovereignty—remains deeply compromised from within.

Stuck in the Middle

Indonesia’s economy may look healthy on the surface, with GDP growing 5.04 percent (year-on-year) in the third quarter of 2025. This growth, however, is still largely driven by household consumption that is expanding slowly, while per-capita GDP remains stuck at around US$4,300 – 4,900. It suggests that growth is occurring, but not the kind that sustainably raises productivity or incomes. This is exactly the condition that risks locking the country into a middle-income trap.

When a city chokes on its own waste

The piles of garbage now haunting the streets of South Tangerang in Banten province are not just a public nuisance. They are a political verdict. When waste overflows onto roads, markets and residential areas, the problem is no longer about sanitation. It is about governance failure.

When edtech meets big tech money

The ongoing courtroom revelations in the Chromebook procurement case are no longer just about overpriced laptops. They are becoming a test of how Indonesia manages conflicts of interest in an era where technology founders move into government—and where public policy can intersect with private capital in ways that are difficult to untangle.

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