Prabowo: Indonesia Must Live Within Its Means

Tempo03-16

TEMPO.CO, Jakarta - President Prabowo Subianto revealed that a core principle of his administration is ensuring Indonesia lives "within its means."The Head of State shared these views during a special...

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The Gerindra Party Chair emphasized that this rule would only change in the event of a severe crisis.Prabowo described the deficit limit as an essential instrument for disciplined state financial management. \"[The deficit cap is] a good tool to discipline ourselves,\" he said, adding that the government has no plans to revise it unless there is a very major emergency such as the COVID-19 pandemic. \"But I hope that we need not change it.\"Indonesia has maintained a maximum budget deficit limit of 3 percent of GDP since the early 2000s, following the Asian financial crisis. This regulation is widely seen as a pillar of fiscal discipline that provides confidence to investors.Prabowo further emphasized his commitment to this discipline, even as other nations abandon strict budget targets. He noted that while Indonesia originally aimed to follow European Union standards, which also cap fiscal deficits at 3 percent, many countries in that region no longer adhere to those limits.Prabowo believes Indonesia remains in a better position than many other nations. He pointed to natural resources, such as palm oil and coal, as relatively affordable assets that guarantee national resilience.Simultaneously, the government will continue developing geothermal, solar, hydro, and biofuel as alternative energy sources. \"If we weather this, in two years, we will be very efficient. We will be very, very not dependent on external sources,\" Prabowo said.Read: Prabowo Questions Task Force Chief Over Slow Progress of Housing ProgramClick here to get the latest news updates from Tempo on Google News","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2620673184","isCrawlerRequest":true}