Indonesian Government Sets Ambitious Nataru Spending Target for 2025/2026

Economic Stimulus Through National Shopping Promotions

The Indonesian government has set a target of Rp 110 trillion in consumer spending during the 2025/2026 Christmas and New Year (Nataru) period. This ambitious target is being driven through various national shopping promotions and campaigns, including Hari Belanja Nasional (Harbolnas), Every Purchase Is Cheap (EPIC), and the 'Belanja di Indonesia Saja' initiative organized by the Indonesian Retailers and Shopping Center Association (Hippindo) ¹

Strategic Programs to Boost Spending

The Coordinating Minister for Economic Affairs, Airlangga Hartarto, revealed that the Rp 110 trillion target is a cumulative figure from several strategic programs. The 'Belanja di Indonesia Saja' campaign alone aims to generate around Rp 30 trillion in transactions until January 4, 2026. This follows the successful Harbolnas campaign, which targeted approximately Rp 35 trillion in spending. The combined efforts of these programs are expected to maintain the momentum of domestic economic growth as the year ends ¹

Economic Impact Assessment

While the Nataru period is expected to provide a significant boost to the economy, particularly in Q4 2025, economists caution that this stimulus is likely to be temporary. Yusuf Rendy Manilet, an economist at the Center of Reform on Economics (CORE), notes that the positive impact will be most pronounced in Q4 2025 with some spillover into early 2026, but will not be sufficient to drive long-term economic growth on its own ²

Consumption-Driven Growth

The anticipated economic boost during Nataru is primarily expected to come from increased household consumption, including retail spending, heightened mobility, and tourism activity. Yusuf projects that Indonesia's economic growth for 2025 could reach around 5.0% year-on-year, supported by these consumption patterns during the holiday period ²