Research & Stock Picks

Economic Reports

02 November 2025

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Samuel Monthly Economic Insights 3 November 2025

■ Bank Indonesia (BI) maintained its 7-Day Reverse Repo Rate at 4.75%, pausing after five cuts this year to preserve rupiah stability. Market consensus expects one final 25 bps cut by year-end.

 

■ Purbaya reaffirmed deficit control amid IDR 9,138 trillion in public debt, prioritizing “on-time and leakage-free” spending. The government rejected renewed BI burden-sharing, instead leveraging diversified funding such as Indonesia’s first-ever Dim Sum bond worth 6 billion yuan (USD 842 million) — signaling reduced dollar dependency.

 

■ State-linked reforms advanced through Danantara’s recapitalization of Garuda Indonesia (IDR 29.8 trillion) and consolidation of over 1,000 SOEs into 200–240 entities to strengthen governance and capital discipline.

 

■ The Free Nutritious Meal (MBG) program expanded to 36.7 million beneficiaries, yet recurrent food-poisoning incidents exposed governance gaps, leading to new safety protocols and Indian technical assistance.

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