Indonesia says its poverty rate the lowest in two decades
JAKARTA:The number of Indonesians living under the poverty line has hit a record low for the past two decades, the country's statistics bureau said Friday (July 25).
According to the Central Statistics Agency, there were roughly 23.85 million Indonesians living in poverty as of March this year -- representing 8.47 per cent of the country's total population of 280 million.
BPS categorises people living off Rp 609,160 a month, about US$37, as poor.
"The poverty line figure for 2025 is the lowest for the past two decades," the agency's senior official, Ateng Hartono, told a press conference.
However, the agency noted the significant gap between big cities and rural areas, with villages still seeing a higher poverty rate.
Jakarta last week struck a trade deal with the United States that will see Indonesian goods hit with a 19 per cent tariff -- lower than the threatened rate of 32 per cent.
According to Washington, nearly all US goods will be able to enter Indonesia tariff-free.
Indonesia's Coordinating Minister of Economics Airlangga Hartarto said earlier this week that if Washington had insisted on the 32 per cent tariff, around one million Indonesians could lose their jobs and the poverty rate could increase. - AFP
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
25 minutes ago
- The Sun
Oil prices rise on EU trade deal and US-China tariff truce talks
SINGAPORE: Oil prices climbed on Tuesday as market sentiment improved following a US-EU trade agreement and discussions to extend the US-China tariff truce. Brent crude futures rose 24 cents, or 0.34%, to $70.28 a barrel, while US West Texas Intermediate crude increased 22 cents, or 0.33%, to $66.93. Both benchmarks had surged over 2% in the previous session, with Brent hitting its highest level since July 18. The US-EU trade deal, which imposes a 15% tariff on most EU goods, avoided a full-scale trade war that could have disrupted nearly a third of global trade and weakened fuel demand forecasts. Further supporting prices were reports of potential progress in US-China trade talks. Senior economic officials from both nations met for over five hours in Stockholm on Monday, with discussions set to continue on Tuesday. Meanwhile, geopolitical tensions added to market volatility. US President Donald Trump issued a new 10 to 12-day deadline for Russia to show progress in ending the Ukraine war or face sanctions. Trump warned of penalties on Russia and buyers of its oil exports if no progress is made. 'Trump's comments reignited fears that Russia's oil flows would be impacted,' said ANZ senior commodity strategist Daniel Hynes. He noted that the EU's latest sanctions, including a lower price cap on Russian crude and restrictions on refined products, also contributed to supply concerns. - Reuters
The Sun
an hour ago
- The Sun
Ringgit gains as trade tensions ease, US-China talks in focus
KUALA LUMPUR: The ringgit opened higher on Tuesday against the US dollar and other major and regional currencies, supported by easing global trade tensions that lifted investor sentiment, an analyst said. At 8.01 am, the local note rose to 4.2140/2460 against the greenback from Monday's close of 4.2275/2345. However, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) had strengthened, buoyed by optimism ahead of upcoming US-China trade talks. The DXY gained 1.03 per cent to 98.653 points, as officials from both countries were in discussions in Sweden on a possible trade truce, he told Bernama. 'At the same time, the two-day Federal Open Market Committee (FOMC) meeting, which begins today, will be in the spotlight, with consensus expecting no change to the Fed Funds Rate. 'In addition, the US labour market will be closely watched, with July's Nonfarm Payrolls (NFP) report due on Friday. The market expects a softer print of 108,000, down from 147,000 in June,' he said. Mohd Afzanizam noted that the ringgit had weakened 0.21 per cent against the US dollar to RM4.2310 on Monday, amid ongoing trade negotiations between Malaysia and the United States. Malaysia is actively engaging the US to avert the impending 25 per cent tariffs set to take effect on Aug 1, seeking a rate below 20 per cent. Meanwhile, the extended US-China negotiations could signal a prolonged truce, suggesting the administration of US President Donald Trump remains sensitive to the tariffs' potential impact on the domestic economy. 'However, tariff shocks are likely to increase downside risks to global growth in the second half of 2025 and beyond, as higher costs of doing business in the US could dampen aggregate demand. 'The current term of the Fed chair ends in May next year, and it appears likely that Jerome Powell's successor will be more aligned with the US President's preference for lower interest rates as a policy stance,' he added. Mohd Afzanizam expects the ringgit to trade in a narrow range, likely between RM4.23 and RM4.24 today. At the opening, the ringgit traded higher against most major currencies. It rose against the Japanese yen to 2.8383/8600 from 2.8497/8546 at Monday's close, appreciated versus the British pound to 5.6286/6714 from 5.6720/6814, and strengthened against the euro to 4.8861/9232 from 4.9331/9412 previously. The local note was also firmer against regional peers. It improved against the Indonesian rupiah to 257.4/259.6 from 258.3/258.9, gained versus the Singapore dollar to 3.2750/3004 from 3.2917/2974, strengthened against the Thai baht to 12.9626/13.0702 from 13.0511/0787, and inched up against the Philippine peso to 7.37/7.43 from 7.39/7.41 previously. - Bernama
Barnama
an hour ago
- Barnama
Ringgit Opens Higher On Easing Trade Tensions
WORLD By Karina Imran KUALA LUMPUR, July 29 (Bernama) -- The ringgit opened higher on Tuesday against the US dollar and other major and regional currencies, supported by easing global trade tensions that lifted investor sentiment, an analyst said. At 8.01 am, the local note rose to 4.2140/2460 against the greenback from Monday's close of 4.2275/2345. However, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) had strengthened, buoyed by optimism ahead of upcoming US-China trade talks. The DXY gained 1.03 per cent to 98.653 points, as officials from both countries were in discussions in Sweden on a possible trade truce, he told Bernama. 'At the same time, the two-day Federal Open Market Committee (FOMC) meeting, which begins today, will be in the spotlight, with consensus expecting no change to the Fed Funds Rate. 'In addition, the US labour market will be closely watched, with July's Nonfarm Payrolls (NFP) report due on Friday. The market expects a softer print of 108,000, down from 147,000 in June,' he said. Mohd Afzanizam noted that the ringgit had weakened 0.21 per cent against the US dollar to RM4.2310 on Monday, amid ongoing trade negotiations between Malaysia and the United States. Malaysia is actively engaging the US to avert the impending 25 per cent tariffs set to take effect on Aug 1, seeking a rate below 20 per cent.
