President Joko Widodo of Indonesia is leaving office on Sunday with strong approval ratings due to robust economic growth. However, his successor Prabowo Subianto has ambitious plans, including a $28 billion free meal program for students.
Despite the country’s consistent five percent annual economic growth, Prabowo aims to push it to eight percent by leveraging the nation’s vast human resources and capitalizing on his predecessor’s policies.
In his victory speech in March, Prabowo emphasized the importance of unity in eradicating poverty, hunger, and suffering among the Indonesian people. His main campaign promise is the implementation of a $28 billion plan to provide free meals to millions of schoolchildren and pregnant women nationwide, starting in January.
While Prabowo plans to continue Jokowi’s economic programs, he also aims to focus on poverty alleviation by investing in national projects, utilizing natural resources, and lowering the poverty rate of over nine percent.
Experts believe that Prabowo’s economic agenda will prioritize human capital development and agriculture, with initiatives such as a food estate program, bioethanol projects, and a green fund for selling carbon emission credits.
– Capital crunch –
Prabowo is also set to continue Jokowi’s legacy project of relocating the capital to Nusantara, despite facing challenges due to the project’s escalating costs. He has expressed support for resource nationalism, particularly in the nickel sector, and aims to gradually reduce the country’s reliance on fossil fuels.
Prabowo’s early interactions with China, his cabinet choices, and the implementation of his first budget will provide insights into his economic plans. The potential retention of the current finance minister signals continuity and discipline in managing fiscal issues under Prabowo’s leadership.
