Jakarta (VNA) – Indonesian Minister of Finance Purbaya Yudhi Sadewa has said that the country is adopting the "Sumitronomics" economic development concept to help achieve the target of 8% economic growth in 2029.
The concept, developed by Indonesian economist Sumitro Djojohadikusumo - the late father of President Prabowo Subianto, focuses on three main pillars: high economic growth, equitable development, and dynamic national stability.
In his speech at the fifth plenary session of the House of Representatives (DPR), Purbaya acknowledged that the 8% growth target is ambitious, but still realistic if the Government consistently follows its strategy.
According to him, the 2026 Draft State Budget has been designed as a catalyst for growth. The Government is aiming to accelerate economic activity, stimulate the real sector, and boost people’s purchasing power. The state budget will support the private sector, which remains the main engine of growth.
The growth of resilient sectors like agriculture, manufacturing, labour-intensive industries, and tourism will continue to be supported at high levels in order to contribute optimally to job creation, he added./.
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