Indonesia's Economy Pre-2024 Elections: Wage Hike & Recession Concerns
- The Indonesian government has approved the minimum wage increase in 2023 by up to ten percent.
- The decision has prompted massive layoffs, and many consider it risky as the global economy is headed for a recession next year.
- Indonesia will hold the general election (Pemilu) and regional head elections (Pilkada) in 2024. Participating incumbents may exploit wage hikes to boost votes.