Business Sector Needs Policy Certainty Amid Rupiah Pressure

The Indonesian Business Council (IBC) has emphasized the importance of policy certainty, regulatory consistency, and clear communication in maintaining business confidence amid rupiah pressure and global economic uncertainty. The view was conveyed by IBC Principal Policy and Program Karlina Aucia Agusta during The Forum “Stabilitas & Keberanian di Tengah Ketidakpastian Global”, organized by B Universe in Jakarta on Tuesday, May 26, 2026.

The weakening rupiah has begun to weigh on companies exposed to imported raw materials, energy, international logistics, machinery components, and foreign-currency liabilities. As the currency depreciates, these pressures are increasingly reflected in cost structures, cash flow management, and business planning.

“Every time there is a rupiah depreciation, it affects company costs. This will be strongly felt by companies that are heavily exposed to imports, including imported raw materials, energy, international logistics, and possibly components and machinery,” Karlina said.

She noted that exchange-rate stabilization remains important, but it needs to be pursued carefully to avoid adding pressure to the real sector. For businesses, macroeconomic stability needs to be supported by predictable policy implementation so companies can make investment, expansion, and operational decisions with greater confidence.

As cost pressures rise, businesses have also become more sensitive to the broader direction of policy reform. While bold policymaking is needed to respond to global uncertainty and strengthen Indonesia’s economic position, implementation remains critical. For the business sector, the key question is not only what policy is introduced, but how clearly it is communicated, how consistently it is implemented, and how manageable the transition will be for companies.

This is particularly important for policies that affect business operations, supply chains, market access, and competition. For companies, confidence depends on clarity in policy direction, consistency through consultation and realistic transition periods, and delivery that is felt in day-to-day business processes, from licensing and operational certainty to investment execution. Without these elements, even well-intended reforms may add uncertainty to the real sector.

“What needs to be further considered is how this transition will take place, and how the government will ensure that access and competition among business players remain protected,” Karlina said.

For IBC, bold policymaking needs to be matched by certainty in implementation. Indonesia still has significant opportunities to maintain growth momentum and attract investment, but those opportunities will depend on the country’s ability to strengthen business confidence through policies that are clear, credible, and consistently implemented.