{
    "success": true,
    "data": {
        "id": 1767723,
        "msgid": "when-leakage-becomes-growth-1779898253",
        "date": "2026-05-27 09:03:00",
        "title": "When Leakage Becomes Growth",
        "author": "Ferril Dennys",
        "source": "KOMPAS",
        "tags": "",
        "topic": "Economy",
        "summary": "Indonesia's crackdown on export under-invoicing may temporarily boost apparent economic growth in Q2 not due to new activity, but better recording of hidden transactions. Finance Minister Purbaya Yudhi Sadewa highlights long-standing manipulation in natural resources, affecting foreign exchange and tax receipts. Analysts caution against mistaking this statistical correction for structural recovery.",
        "content": "<p>In almost all development economics textbooks, under-invoicing is\nconsistently cited as one of the most damaging forms of economic\nleakage. Modus operandi is straightforward: export values are reported\nlower than actual transactions to reduce tax liabilities, royalties, and\nrecorded foreign exchange. The nation loses revenue, trade statistics\nbecome skewed, and foreign exchange flows covertly outside the official\nsystem. However, in Indonesia\u2019s current context, a striking\nmacroeconomic irony emerges: as the government intensifies efforts to\nexpose under-invoicing, the economy may appear to improve in Q2. This\nparadox is crucial to understand, lest the public hastily interpret any\neconomic indicator rise as structural recovery. Because in some cases,\ngrowth may appear to rise not from new activity, but from previously\nhidden activities being better recorded. Recently, the government has\nexposed suspected export manipulation in strategic commodities,\nparticularly in the natural resources sector. Finance Minister Purbaya\nYudhi Sadewa stated the practice has persisted for years, causing\nsignificant foreign exchange and state revenue leakage. In macroeconomic\nterms, this goes beyond law enforcement\u2014it touches the core of national\nstatistical formation. In national income theory, economic growth is\ncalculated via the GDP formula: C + I + G + (X-M). The export component\n(X) significantly impacts Gross Domestic Product (GDP), especially for\ncommodity-dependent nations like Indonesia. Under the System of National\nAccounts (SNA), exports are recorded based on international trade\ntransaction values at free on board (FOB) prices. Thus, export value\nmanipulation not only affects state revenue but also compromises the\nquality of national macroeconomic statistics.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/when-leakage-becomes-growth-1779898253",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}