Deni Ghifari

Indonesia

Journalist at The Jakarta Post

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Articles

Retail sales barely grow despite Idul Fitri boost

1 week ago | thejakartapost.com | Deni Ghifari

Retail sales in March barely saw any growth despite the boon from Ramadan and Idul Fitri holidays, which normally spike consumption. According to preliminary data published by Bank Indonesia (BI) on Wednesday, the retail sales index (RSI) for March was estimated to have inched up to 236.7, marking a marginal 0.5 percent yearly increase from 235.4 in March of last year.
Pertamina aviation fuel sales dip as ‘mudik’ travel declines

1 week ago | thejakartapost.com | Deni Ghifari

ales of state-owned oil and gas company Pertamina’s aviation turbine fuel (avtur) fell by 1.1 percent during this year’s Idul Fitri holiday compared with the same period last year, following a decline in homecoming trips, known as mudik (exodus). Pertamina spokesperson Fadjar Djoko Santoso said the decline was in line with data released by the Transportation Ministry that pointed to a decline in people participating in the Idul Fitri exodus.
Danantara to start investing by the end of this month

1 week ago | thejakartapost.com | Deni Ghifari

Indonesia’s sovereign wealth fund (SWF) Daya Anagata Nusantara (Danantara) has stated its readiness to make its first investment by the end of this month after it receives the first round of dividends from state-owned enterprises (SOEs) under its portfolio. Danantara chief investment officer Pandu Sjahrir said on Monday that the fund is ready to become a “liquidity provider” to Indonesia’s capital market. “So, the dividends will only start coming in at the end of this month.
Bapanas defends Prabowo’s order to remove import quotas

2 weeks ago | thejakartapost.com | Deni Ghifari

he National Food Agency (Bapanas) has defended President Prabowo Subianto’s instruction to remove import quotas, arguing that the move will not hurt domestic producers. Bapanas head Arief Prasetyo Adi said on Thursday that the intention behind the removal was to allow imports by more parties, as opposed to a select few with the quotas in place. “The only question is who’s allowed to import, [that’s the point brought up] the other day.
US tariffs a serious threat to RI GDP growth, Sri Mulyani warns

2 weeks ago | thejakartapost.com | Deni Ghifari

he government and economists agree that an increasingly protectionist United States trade policy is weighing on Indonesia’s economic growth, but the full extent of the damage will depend on the final tariffs Washington imposes on goods from the archipelago and its trade partners. Finance Minister Sri Mulyani Indrawati said on Thursday that the planned US tariffs could push Indonesia’s gross domestic product (GDP) growth down “by between 0.3 and 0.5 [percentage points],” Reuters reported.
US tariff policy bucks economic theory, says Sri Mulyani

2 weeks ago | thejakartapost.com | Deni Ghifari

Finance Minister Sri Mulyani Indrawati has criticized the import tariff policy of United States President Donald Trump, which is quickly upending global trade norms, as laying outside established economic theory. Speaking on Tuesday at a public economic forum attended by government officials, businesspeople, economists and journalists, the minister said the unfolding impact of US tariffs was uncharted economic territory.
Prabowo vows to ‘dismantle’ business regulations

2 weeks ago | thejakartapost.com | Aditya Hadi |Deni Ghifari

President Prabowo Subianto has ordered the government to extensively cut back business regulations, including local content requirements and import restrictions, a day before the United States is set to slap steep import tariffs on Indonesian goods. Speaking at a public economic forum on Tuesday, the President said he had made it his “mission” to deregulate the economy and eliminate “convoluted” business bureaucracy. “Throw away all the regulations that don’t make sense.
Govt seeks to import more US goods, avoid retaliation on tariffs

2 weeks ago | thejakartapost.com | Deni Ghifari

The government has vowed to import more goods from the United States to gain leverage in bilateral negotiations and ease tariffs introduced by US President Donald Trump as Jakarta seeks to avoid retaliatory measures. Following a multi-stakeholder meeting on Monday, Coordinating Economic Minister Airlangga Hartarto said in a press conference that President Prabowo Subianto had instructed him to narrow Indonesia’s US$18 trillion surplus in trade with the US by importing more American products.
Sapping rupiah raises inflation risk as imports cost more

2 weeks ago | thejakartapost.com | Deni Ghifari

Businesses and analysts warn that further weakening of the rupiah against the United States dollar could increase inflationary pressures as it become more expensive to import goods, which makes up a significant portion of inputs for domestic manufacturers. While some producers might consider absorbing the extra burden for a narrower margin, others could consider passing on excess costs to consumers, resulting in what is known as imported inflation.
Govt to take ‘strategic steps’ on US tariffs

2 weeks ago | thejakartapost.com | Deni Ghifari

The government has vowed to take measures that alleviate the adverse effects of new United States import tariffs on the Indonesian economy but is holding its cards close to its chest. Jakarta would “calculate the impact” and “take strategic steps to mitigate the negative impact on Indonesia’s national economy”, reads a statement released by the Foreign Ministry on Thursday.