On Tuesday, presumed Indonesian President Prabowo Subianto assured a smooth power transition and hinted at privatising state-run enterprises while keeping key sectors under government control. He foresees potential 8% annual economic growth over the next few years. Prabowo advocates for a balanced approach where the state regulates strategic areas but allows the private sector to thrive.
Prabowo proposes rationalising and privatising state-owned enterprises, emphasising the need for private dominance in various sectors. He vows to continue Joko Widodo’s infrastructure modernization and plans to improve tax ratios without increasing taxes.
Addressing fiscal concerns, he suggests widening the fiscal gap to 2.8% of GDP while maintaining fiscal prudence. In addition, he promises to welcome and safeguard both domestic and foreign investments, seeks to achieve food self-sufficiency, and hopes to export food within four years.
Prabowo acknowledges the difficulties of democracy, calling it “very, very tiring” and messy, yet he suggests room for improvement without elaborating. After winning his third presidential run with the help of Joko Widodo’s influence, he is scheduled to take office in October, drawing criticism for unfair advantages and electoral influence. The official election outcome is due by March 20, marking Prabowo’s potential confirmation as president.
