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Minister Purbaya: Engineer’s Approach to Indonesia’s Economic Challenges

by Emma Walker – News Editor
written by Emma Walker – News Editor

A Glimmer​ of Hope with Minister ​of finance Purbaya

The distribution‍ of funds to consumptive credit carries the potential to fuel price increases and trigger inflation. Ensuring the effectiveness of goverment ⁤stimulus‍ requires diligent oversight⁤ to prevent banks from diverting funds into securities or ​instruments outside the intended scope. ⁢Often, policy implementation falls​ short‌ not due ‍to ⁢flawed‌ concepts, but due to execution issues – a ‌disconnect between ​planning and reality. In this instance,the five ‍Himbara banks bear notable obligation for successful implementation.

Minister ⁤of Finance Purbaya recently demonstrated a commitment to addressing ‍regional financial concerns by pledging to increase the Transfer to Region (TKD) budget in the 2026 Draft ​State‌ Budget. This commitment comes after the initial draft set the TKD budget at⁢ approximately Rp 650 trillion, a decrease from the‍ Rp 864 trillion outlined in the⁢ 2025​ APBN Outlook.

The current TKD value in the 2025 State ​budget has already strained local governments, forcing them to seek additional income, sometimes through measures like increasing⁣ Land and Building Tax (PBB), which has sparked protests in ⁤various regions.

Fiscal policy is a double-edged sword. When implemented correctly, ‍it can effectively drive economic growth‌ and national progress.⁣ Though, inappropriate policies risk economic contraction and widespread social impact. Therefore, fiscal policy formulation must prioritize the broad interests of the people.

In his first week ‌in office, Minister of Finance Purbaya has already signaled a new approach. His swift action to stimulate economic‍ growth deserves recognition.His direct, rapid style offers a renewed sense of hope amidst the​ current economic uncertainties.

In this ‍challenging economic climate, the Minister of Finance must maintain professionalism and a willingness to take calculated risks, remaining uninfluenced ⁢by ​political or populist pressures.It’s crucial to remember that economic stability is inextricably linked to political stability, and vice versa.

Let us remain optimistic. Optimism is,⁢ undoubtedly, ‌a more productive⁢ stance than pessimism.

A Renard Widarto, Businessman, engineer and doctoral economics.

Also check out the Purbaya Video after the Minister of Finance Sertijab: This Amanah Is Not Light.

(IMK/IMK)

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Business

Washington Gas Prices: State Faces Record High Costs Due to Taxes and Climate Initiatives

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

Washington State ‌Now Has the Nation’s Highest gas Prices,Exceeding California

Washington state is currently experiencing the highest ‌average gas prices in the United States,surpassing even⁢ California,a state historically known for its expensive fuel.‌ as of September 14th, the average price for a gallon of regular gasoline in Washington reached $4.66, according⁢ to AAA, considerably exceeding the national average‌ of $3.18. california’s average price‍ stands at $4.64 per gallon.

The‌ Seattle metropolitan area bears the ‌brunt of the high costs, with an average price of $4.81 per gallon. ​This ⁢surge is attributed to a combination of factors,including the‍ state’s already high gas taxes and costs associated with climate initiatives,compounded by recent tax increases.

A new gas tax implemented ​on July 1st added 6⁤ cents per gallon of unleaded, increasing Washington’s per-gallon tax rate ⁢from​ 49.4 cents ‍to ‍55.4 cents. Moreover,⁢ prices are‌ slated to ‌rise 2% annually to adjust for inflation, ⁢with diesel prices increasing by an additional 3⁣ cents in two years, followed by a 2% annual increase​ starting in 2028.⁤

In addition‌ to the gas tax, Washington’s⁣ CO2 emissions tax⁣ from the Climate Commitment Act⁤ also increased by 6 cents recently.While ​some blame this law – which requires businesses ⁢to pay fees for air pollution – for the price hikes, the State Department of Ecology maintains ⁤it isn’t the primary driver, noting‍ a recent increase of just over three cents per gallon mirrored a‌ national ​trend. Revenue generated from the CO2 emissions tax, totaling approximately $3.2 billion in​ its first two and a half years, is allocated to programs⁤ focused on ​reducing carbon emissions, expanding ​rural public transit, and supporting individuals with disabilities.

Seattle drivers are expressing mixed reactions to the rising costs. Timothy Durden, ⁢a Seattle​ resident, told KOMO News, ⁢”Seattle doesn’t‍ pay [any] money on ⁣the infrastructure here. You go down I-5,it bumps everything. So, I don’t think we spend‌ enough‌ money on that.” Another Seattle resident, Quinn Sullivan, commented, ⁤”We’re basically California now ⁤with our gas prices.”

Drivers are actively seeking the best deals, with some reporting prices nearing $5 a gallon near the⁢ airport prior to the July tax increase. The escalating prices are causing concern among those planning holiday travel.

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Business

“Bank card strike, the poor Zucman tax”

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

france Sees Surge in Anticapitalist Sentiment: Bank Card Strike & Zucman Tax Gain Traction

Paris, France – A wave ​of anticapitalist fervor‍ is sweeping​ across​ France, manifesting in both ⁢a novel “bank card strike” and growing support for a proposed wealth⁣ tax known as the “Zucman​ tax.” These developments signal a deepening discontent with the current economic system⁣ and a willingness among some to explore radical alternatives.

The most striking‍ recent development is the‍ call ⁢to action circulating on social media urging ‌french citizens⁤ to exclusively use cash for a ‌month. Proponents claim that a shift away from ‌electronic payments by ⁣even 10 million people could divert ​up to €15 billion from the banking system. While the economic impact of such a move is widely considered fanciful – the idea that small withdrawals could destabilize banks is largely dismissed – the initiative highlights a desire to⁣ exert economic pressure and challenge the power of‌ financial institutions.As one social media‌ post succinctly put it, “Your credit‌ card has more power than your ballot.”

This sentiment echoes a similar call from years past,during ⁤the 2008 financial​ crisis,when⁣ footballer Éric Cantona famously urged people to withdraw their money from local banks as a​ form of protest.

Alongside this grassroots movement, the “Zucman tax” – named after economist Gabriel⁢ Zucman – is gaining momentum. This proposed tax aims to levy a 2% annual tax on the net wealth⁣ of the richest French ‍citizens. Advocates⁢ argue it’s a crucial step towards greater economic fairness and could substantially boost state revenue. As‍ Aurélie Jean recently argued, the Zucman tax could ‍fundamentally reshape France’s economic landscape.

These converging ​trends – the unconventional ⁣bank card ⁤strike and the rising popularity of ⁢the⁢ zucman tax – demonstrate a growing ⁤appetite ⁤for systemic change​ in France. Whether ‌these movements will⁤ translate into lasting political or economic shifts remains to be seen, but they ‍undeniably represent a critically important moment in the country’s ongoing debate about capitalism and⁤ its future.

Keywords: France, Anticapitalism, Zucman Tax, Bank ⁣Card Strike, Economic ‍Protest, Wealth Tax, Gabriel ⁢Zucman, Financial ‌System, Economic Discontent, Eric Cantona.

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Business

France Credit Downgrade: Political Crisis and Debt Concerns

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

France Loses Top-Tier Credit Rating as Political Uncertainty Mounts

PARIS – Fitch ratings downgraded france’s credit rating on Friday,stripping the country of its AAA status for the first time in over two decades,citing a weakening of public finances and escalating political risks. The move reflects growing concerns about the French government’s ability to consolidate its budget deficit and implement necessary reforms amid a backdrop of political instability and upcoming elections.

The downgrade to AA+-accompanied by a negative outlook-signals increased borrowing costs for the French government and could possibly impact investor confidence in the Eurozone’s second-largest economy. This decision arrives as France prepares to comply with revised EU fiscal rules, requiring deficit reduction as required by EU rules, by 2029. The cut underscores the challenges facing president Emmanuel Macron’s management as it navigates a complex political landscape and seeks to maintain fiscal discipline.

Fitch analysts pointed to a larger-than-expected budget deficit and a reliance on debt-fueled spending as key factors driving the decision. they also highlighted the potential for political fragmentation following the recent legislative elections, which deprived Macron’s coalition of an absolute majority, as a source of uncertainty.

Economy Minister eric Lombard acknowledged the downgrade but asserted the French economy remains robust despite its financial and political challenges. Lombard stated that Minister of the Armed Forces Sébastien Lecornu is already engaged in negotiations “to adopt a budget for the nation and continue efforts to restore our public finances.”

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Entertainment

Title: Jakarta DGT Investigates Leony’s Inheritance Tax Dispute

by Julia Evans – Entertainment Editor
written by Julia Evans – Entertainment Editor

Jakarta, Indonesia ⁢- Singer Leony Vitria hartanti has ⁣sparked a​ public debate ⁣regarding Indonesian inheritance tax laws after voicing frustration over a 2.5%⁤ tax levied when transferring ownership of a property inherited from her father. The ⁣issue gained traction following Leony’s social ⁣media post detailing the unexpected expense, prompting widespread discussion about the ‍financial burden ‌placed on heirs.

The tax, applied to the assessed value of the house, reportedly amounts‌ to​ tens of millions of⁣ Indonesian Rupiah, despite Leony simply seeking to update the property’s name. this revelation comes as the Directorate⁤ General of Taxes (DGT) faces increased‍ scrutiny and public questioning ‌regarding the fairness and transparency of its inheritance tax policies. Leony’s experiance highlights a concern ​shared by many Indonesians – the potential for meaningful tax⁤ liabilities⁢ when inheriting assets from family members, even when no ‍actual ⁤sale⁣ or financial gain occurs.

“So, such as, I want to⁣ change the‌ name‍ of ⁤the house in the name of Bokap and keep his name, he has to tax the heir to pay for 2.5 percent of his home value,” Leony explained in her post, using the Indonesian term for ‌”father.” “Which is why​ I have to spend tens of millions of more money for ⁢the name ⁤of the door.”

Leony ​expressed feeling penalized despite consistently fulfilling her tax obligations, including annual property taxes. “I ⁣feel this is⁤ unfair, like this is the house when we buy we ​already pay taxes, every year ​we pay the United Nations, then now we ‍only replace the ⁤name ‌from Bokap to me, I⁤ have‍ to pay again, hit again,” she stated.

The artist’s ⁢complaint resonated ⁢with numerous social ⁣media users,many of whom shared similar experiences with inheritance taxes. The outpouring of support and questions directed towards the DGT underscores a need for greater clarity and potential reform of inheritance tax regulations in Indonesia. The DGT has not yet issued a formal response to Leony’s concerns or the broader​ public discussion.

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Business

Title: EU Fines Google $3.45B, Trump Threatens Trade Retaliation

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

Brussels – The European​ Union has levied ⁤a fine of US ​$3.45 billion ​(approximately Rp.56.6 trillion, based on an⁤ exchange‌ rate of ‌Rp.⁤ 16,420)​ against​ Google, the Alphabet subsidiary, for anti-competitive practices within its advertising technology business. this marks the fourth​ EU competition fine against Google in​ recent decades.

The decision, announced Sunday, September 7, 2025, prompted‌ a ⁢swift and ⁣critical response from former U.S. President Donald Trump, who labeled the action ‍”unfair and discriminatory” in a post on his social media platform, ⁤Truth Social.Trump ​threatened to invoke Article 301 of the 1974 Trade Act, ⁣which authorizes the U.S.to impose penalties on foreign countries deemed ⁤to burden American trade.

“We cannot allow this to happen to the results ⁢of a brilliant American intelligence⁤ and⁢ have never happened before. If that happens, I will be forced to start a process based on ‍Article 301 to cancel ‌the unfair ⁣punishment imposed⁢ on ⁤American companies that pay this ​tax,” trump stated. He further warned of retaliatory tariffs ⁤on the european Union, echoing previous trade disputes.

Google intends ‍to appeal the ruling. However, the EU Commission has indicated it may pursue stronger remedies, including potential divestment, should Google‍ fail to address ⁣the ‍identified⁢ conflicts of interest.The ⁣Commission found that Google prioritized its ​own online display advertising service,​ bolstering its ad exchange, ‌ADX, and subsequently allowing the company to charge higher fees. This ⁣practice, according to ‍the Commission, disadvantaged​ competitors and⁣ online publishers.

The EU has​ ordered Google to ⁢cease self-preferential practices and to outline a plan for compliance within 60 days, with a 30-day implementation period following.‍ The case highlights⁣ escalating tensions surrounding digital market regulation and the EUS efforts to regulate dominant non-European platforms.

initial‌ plans to‍ issue⁢ the fine on Monday were‌ reportedly‌ delayed due to concerns from​ EU Trade Commissioner ⁤Maros Sefcovic regarding potential U.S.⁤ tariffs on European automobiles.

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