Insights

The Indonesian government has rolled out an IDR 24.4 trillion fiscal stimulus package effective from 5 June to 31 July 2025, aimed at stabilizing household consumption during the mid-year school holiday season. The policy response came on the heels of a sub-5% GDP growth in Q1 2025, driven by weaker-than-expected household spending and delayed budget realization.  The stimulus comprises five targ

The Makan Bergizi Gratis (MBG) initiative stands out as one of the flagship programs under President Prabowo’s administration. As a national free meal program targeted at school children, MBG reflects the government’s strong political will to tackle long-standing issues of child nutrition, stunting, and social inequality. By prioritizing MBG early in his presidency, President Prabowo has signalled

The latest guidance from Indonesia’s banking sector points to a cautious outlook for 2025. This is not surprising, given the ongoing macroeconomic uncertainties. In this note, we review recent performance and forward guidance from the country’s top five banks: Bank Central Asia (BBCA), Bank Mandiri (BMRI), Bank Rakyat Indonesia (BBRI), Bank Negara Indonesia (BBNI), and Bank Syariah Indonesia (BRIS