Jakarta (VNA) - Indonesian President Prabowo Subianto has announced a target of 5.8–6.5% economic growth in 2027, and 8% by 2029 while addressing a plenary session at the House of Representatives regarding the Macroeconomic Framework and Fiscal Policy Points.
Indonesia’s key strategy in the coming period will focus on leveraging its natural resource advantages, promoting downstream processing industries and restructuring the export system to prevent the outflow of national wealth abroad, President Prabowo stressed.
The State budget is not merely a financial instrument, but also a means to protect the people, strengthen the economy and improve social welfare, with the goal of reducing the poverty rate to around 6% by 2027, he said.
The Indonesian President also instructed ministries and agencies to improve administrative governance, cut bureaucratic procedures and accelerate investment licensing in order to create a more favourable business environment.
Speaking at a press conference following the session, Coordinating Minister for Economic Affairs Airlangga Hartarto said that state revenue in 2027 is projected to reach 11.8–12.4% of gross domestic product (GDP), while public spending is expected to account for 13.6–14.8% of GDP to ensure resources for national priority programs, including food security, energy transition and downstream industrial development./.
VNA
