Dozens of Stocks Could Benefit from Lebaran Stimulus, Check Now!
Jakarta, CNBC Indonesia - The government has launched an Economic Stimulus Programme at the moment of the National Religious Holiday (HBKN), namely Lebaran Idulfitri 2026. The incentives are expected to bring benefits to a number of sectors.
Coordinating Minister for Economic Affairs Airlangga Hartarto stressed that the launch of the Economic Stimulus Programme is expected to boost mobility and preserve household purchasing power, while also contributing positively to national economic growth.
“Lebaran Idulfitri has historically, including the Nataru period, increased mobility and tourism activity, thus capable of driving economic growth in the fourth quarter last year to as high as 5.39%,” said Airlangga.
On that occasion, Airlangga also noted that mobility spikes occur in every HBKN period, including increases in the number of tourist visits across regions.
With government support through the Economic Stimulus Programme, this is expected to help people plan travel during HBKN holidays and simultaneously help reduce congestion often seen during holidays.
“The increase in mobility during Lebaran and Idulfitri 2025 reached 154.62 million people, and Nataru holidays 110.43 million, year-on-year growth for 2025 was 5.11%, and in December the number of foreign visitors contributed 1.41 million and domestic visitors 105.98 million,” Airlangga explained.
For HBKN Lebaran Idulfitri 2026, the government has again released stimulus in the form of transport fare discounts with a total budget of Rp911.16 billion.
For rail transport, a 30% discount on ticket prices for travel periods 14-29 March 2026 and for sea transport PT Pelni a 30% discount from base tariffs for 11 March-5 April 2026.
Additionally, ASDP ferry services will be exempt from port service charges on 12-31 March 2026, and air transport will be discounted 17-18% for domestic economy class flights 14-29 March 2026. Ticket purchases for the periods receiving discounts can be made from 11 February 2026.
The government will also implement a Work From Anywhere (WFA) or Flexible Working Arrangement (FWA) on 16, 17, 25, 26 and 27 March 2026 for civil servants and private sector workers to optimise the positive effects of mobility during this year’s HBKN holiday period.
Furthermore, the Government has prepared a Food Assistance scheme consisting of 10 kilograms of rice and 2 litres of cooking oil per month for around 35.04 million Beneficiary Families (KPM), with an estimated budget of Rp11.92 trillion, to be handed out together for two months at the start of Ramadan.
Through the HBKN Lebaran Idulfitri 2026 Economic Stimulus, the Government hopes mobility will be better managed, local economic activity remains steady, and the contribution of transport and tourism sectors to the national economy continues to grow.
“Final note, we hope all business units, including state-owned enterprises implementing the discount programme, can ensure its implementation runs smoothly up to and including its rollout. This also includes the private sector which has been given the regulations and guidelines related to the programme,” concluded Airlangga.
Potential Stocks Could Benefit
This stimulus essentially drives household consumption, which accounts for about 50-55% of Indonesia’s GDP. In other words, the sectors most likely to benefit are consumer, retail, transport, and logistics.
- Consumer Goods Companies
Food stimulus and THR disbursement generally drive higher consumption of daily necessities. This could provide positive sentiment for several consumer goods issuers.
Some companies likely to benefit include PT Indofood Sukses Makmur Tbk (INDF) and PT Indofood CBP Sukses Makmur Tbk (ICBP). Demand for instant noodles and beverages typically rises during Ramadan as consumption patterns change.
In addition, PT Mayora Indah Tbk (MYOR) could be driven by increased demand for biscuits, coffee, and candy that are often consumed as additions during the fasting month.
Meanwhile, PT Unilever Indonesia Tbk (UNVR) is expected to also benefit from higher consumption of household and personal care products ahead of Ramadan and Eid al-Fitr.
Many of their products are used as hampers to share with loved ones during Ramadan.
- Modern Retail Companies
Transport discounts and THR disbursement generally spur higher consumer spending. The extra income ahead of Lebaran is often used to meet essentials, prepare for mudik, and various other household needs.
This could positively affect modern retail issuers such as PT Sumber Alfaria Trijaya Tbk (AMRT), which operates the Alfamart minimarket chain, and PT Midi Utama Indonesia Tbk (MIDI), operator of Alfamidi. These two companies have wide store networks reaching into residential areas, making them a key channel for people to buy daily necessities.
- Transportation
A string of transportation companies are also expected to benefit from the transport fare discounts, especially as the mudik holiday period begins soon.
One example is PT Garuda Indonesia Tbk (GIAA) which operates flights.