President Prabowo Subianto Outlines Economic Strategy and Reforms in Parliamentary Address

In his inaugural address to the House of Representatives, President Prabowo Subianto announced a new economic policy requiring natural resource exports to be processed through state-owned enterprises to ensure national prosperity.

Key points

• President Prabowo Subianto issued a government regulation mandating that exports of commodities like palm oil and coal must be handled by state-owned enterprises as sole exporters.
• The government plans to construct 5,000 fishing villages over the next three years to improve infrastructure and access to essential supplies like ice and fuel for local fishermen.
• President Prabowo Subianto criticized bureaucratic inefficiencies, specifically warning against officials who delay administrative tasks for personal gain.
• The administration aims to strengthen national sovereignty by reducing economic dependence on foreign powers and stabilizing the rupiah exchange rate.

Why it matters

These policy shifts represent a significant move toward state-led economic management and resource nationalism, aimed at curbing foreign exploitation and improving domestic infrastructure.