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The Best Banks Service Excellence Monitor 2025

UNDER THE THREAT OF TARIFF WARS AND THE RAMPANT CROWDING OUT

Oleh Karnoto Mohamad
Sumber: Infobank

Sumber: Infobank

It has been six months since President Prabowo Subianto and Gibran Wakabuming Raka led Indonesia since being inaugurated on October 20, 2024. People’s lives are getting harder with their purchasing power continuing to weaken. Waves of layoffs (PHK) will continue to hit and further suppress people’s purchasing power, which will affect the performance of the real sector. During the 2025 Eid holiday season, 47 million people were unable to return home. Meanwhile, business people are increasingly nervous seeing the collapse of stock prices and the melting rupiah exchange rate to exceed IDR 17,000 per US$1 on April 8. Fiscal is also increasingly under pressure because state revenues have plunged 30.19% in the first two months of 2025. Experts have also warned that the various indicators above are warning signs of economic weakness.

When many people are saying “Indonesia is Dark (Indonesia Gelap)”, Prabowo continues to be optimistic, convincing that Indonesia’s future is bright. Moreover, a number of surveys state that around 80% of respondents are satisfied with the government’s performance during the first 100 days. Prabowo has also been vocal in responding to various public criticisms such as the budget relocation policy that is increasingly weakening the real sector, the government’s ballooning debt, and free nutritious meals (Makan Bergizi Gratis/MBG).

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