Looming Economic Crisis in Prabowo’s Administration
The current account deficit threatens the Indonesian economy. The value of the rupiah could fall further, triggering an economic crisis.
Yopie Hidayat
September 2, 2024
THE recent surge in student protests evokes a sense of déjà vu. Are we on the brink of a major crisis similar to 1998? A quarter of a century ago, the economic crisis began with the rupiah’s collapse, spread to the banking sector, and ultimately sparked social unrest, leading to the government’s fall.
Fortunately, there are no strong signs yet that a crisis is imminent. There are several reasons to suppor
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