The Jakarta Composite Index (JCI) is showing a strengthening trend and is expected to test the 6,450 resistance level. Optimism in the capital market is supported by positive developments in the efforts to achieve food self-sufficiency, as well as technical strengthening occurring in the financial market.
Stock trading activities on the Indonesia Stock Exchange (IDX) are also dynamic, in line with the increasing confidence of both domestic and foreign investors. This condition is reflected in the high daily transaction volume in the stock market.
Bank Indonesia recorded that Indonesia's External Debt position in the second quarter of 2026 increased to USD 453.4 billion. This increase primarily stemmed from loan disbursements and bond issuances by both the public and private sectors.
Despite the increase, Indonesia's External Debt structure is still considered healthy and manageable, as the majority consists of long-term debt. This financing is directed toward supporting economic activities and the development of domestic productive sectors.
The government plans to restructure hundreds of subsidiaries and sub-subsidiaries of State-Owned Enterprises (SOEs) that are deemed to be operating at a loss or no longer providing optimal contributions. This policy is part of an effort to improve efficiency by reducing unnecessary operational burdens.
Meanwhile, SOEs with healthy performance are expected to increase profitability and provide a larger contribution to the state. The government is targeting SOE dividend receipts to reach IDR 200 trillion for the 2026 financial year.
The government, together with the House of Representatives (DPR), is currently preparing response measures and budget reallocation to accelerate the post-earthquake recovery process in East Nusa Tenggara (NTT). Emergency funds will be directed to support the repair of public infrastructure and the recovery of settlements for affected communities.
This policy aims to ensure that humanitarian aid and basic services can be immediately provided to the community. In addition to rebuilding infrastructure, attention is also being directed toward the recovery of the community's economic activities and fulfilling the health needs of the affected residents.
This series of developments exerts a diverse impact on the national economy. The strengthening of the JCI and high stock trading activity reflect increasing market participant confidence and support liquidity movement in the financial market. On the other hand, the increase in External Debt provides additional financing space for the government and private sector to support productive activities, although it still needs to be managed prudently to maintain fiscal sustainability and external stability.
The restructuring and closure of unproductive SOE entities also have the potential to improve state corporate efficiency by reallocating resources toward healthier and more profitable business units. At the same time, the financing needs for handling the earthquake in NTT demand flexibility in managing the government budget so that the recovery process can take place quickly without neglecting other development priorities. Overall, these developments indicate an ongoing process of economic consolidation and efficiency that can support growth, although the government still needs to anticipate budget pressures arising from disaster management needs.
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