Indonesia: Run-off election in June would mean no new reform this year

  • Leading presidential candidate, old guard champion Prabowo, polling below the 50% he needs for outright win in February

  • End-June run-off would put paid to new reforms this year (there is also little ground for reform optimism thereafter)

  • Indonesia equities, which are cheap versus history, remain driven by commodity price and policy rate outlook
January 19th, 2024
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