Prabowo Subianto, the incoming President for the term 2024-2029, is bullish on Indonesia’s economic prospects, aiming for a growth rate of up to 8% in the next few years. He expressed this optimism during his participation at the 2024 Qatar Economic Forum in Doha on Wednesday (15/5). Prabowo revealed his confidence in surpassing the 8% target after consulting with experts and analyzing the data.
During his address, Prabowo emphasized the importance of implementing downstreaming policies to drive future economic expansion, acknowledging that the process would require a few years to take full effect. He singled out agriculture, food production and distribution, as well as energy as key sectors that would propel growth in the initial stages of his administration.
In a bid to promote sustainability, Prabowo disclosed plans to expedite the nation’s transition to green practices, such as the production of biodiesel from palm oil. By reducing the reliance on diesel imports, which currently amounts to $20 billion annually, Indonesia stands to make significant economic savings.
Prabowo emphasized that the adoption of downstreaming policies should not be misconstrued as protectionism but rather a strategic move to elevate Indonesia’s status from a mere raw material exporter to a sophisticated industrial powerhouse. He underscored the necessity of safeguarding national interests and maximizing the benefits derived from the country’s abundant natural resources.
By pursuing industrialization and ensuring the equitable utilization of resources for the populace’s welfare, Prabowo aims to create a level playing field that prioritizes domestic production and minimizes dependence on foreign-manufactured goods. This approach, he asserted, is essential for fostering economic growth and resilience in a global context where nations vie to protect their citizens’ wellbeing.
