The energy transition issue is a global trend that affects the oil and gas industry. In energy transitions, the use of fossil energy is gradually abandoned and switched to a cleaner new renewable energy (NRE).
The government has set regional minimum wages in 2023 through the Manpower Ministerial Regulation No. 18/2022 on 2023 minimum wages, allowing local administrations to increase the minimum wage limit by up to ten percent.
Many loopholes and constraints exist in Indonesia's JETP deal so that Indonesia or donor countries can backslide from commitments, and funding deals may be revised.
Held amid a war that triggered geopolitical conflict and tensions, an economic recession, and a food and energy crisis, the Indonesian G20 Presidency is unlikely to secure any consensus or commitment.
The Indonesian government has decided not to implement a carbon tax this year. After several delays, Coordinating Economic Minister Airlangga Hartarto announced that the carbon tax could come into effect by 2025.
Mass layoffs are starting in Indonesia. As digital startup companies went bankrupt and cut employees some time ago, now the threat spilled over to other labor-intensive sectors.
Long-term risks from the credit insurance line overshadow the general insurance and reinsurance industry, while life insurance struggles to reverse the weakening of key financial ratios. The gloomier economic prospect has kept the industry on alert.
Countries worldwide face economic shocks and high inflation due to rising energy costs and the expected global food crisis in 2023. Indonesia plans to raise awareness about these issues in the upcoming G20 summit.
It is not yet known how the Constitutional Court will address this constitutional problem. However, the Court has also set a precedent by issuing an ambiguous verdict when deciding on the Job Creation Law.
