ECONOMY

To ensure that the electricity tariff subsidy is provided for underprivileged people, the government implements the Accurate Electricity Tariff Subsidy Policy (SLTS) since January 1, 2017.

The increasing investment grade of Indonesia according to the Standard & Poor’s is considered bringing a positive impact on the economy of Indonesia. Finance Minister Sri Mulyani Indrawati claims that more foreign investors are looking for opportunities in Indonesia.

Minister of Finance Sri Mulyani has set Indonesia’s economic growth target in the Draft State Budget (RAPBN) at 5.4-6.1 percent.

Food security task force has the responsibility to fight food cartel that causes food prices instability. After the government had formed the task force, the task force has arrested a food hoarder who hoarded 182 tons of garlic in a warehouse in Marunda.

Therefore, the Directorate General of Tax is working hard to achieve the tax income target. They have targeted to gain Rp45 trillion tax income from tax audit and collection.

President Joko Widodo is in Beijing, China, to attend the One Belt one Road (OBOR) Forum.

Balongan VI refinery in Indramayu, West Java needs more base materials because crude oil supply from domestic fields is depleting.

According to Joko, the European Union Parliament resolution only applies to palm oil. Despite this, there are many types of vegetable oil in Europe, which also contributes to deforestation.

The Indonesia Petroleum Association (IPA) views the national oil and gas industry is in crisis. Aside declining exploration activities, investments in the sector is dwindling.

The Energy and Mineral Resources Minister has reported that the 35,000 MW power plant development program has operated power plants with 743 MW capacity until April 2017.

The government and PT Freeport Indonesia holds the second discussion to resolve four issues between both parties