Indonesia’s Prabowo Targets 6% Growth, Lower Budget Deficit in 2027

KN. Indonesian President Prabowo Subianto is ambitiously looking to increase the state revenue by nearly 7% to 3,426 trillion rupiah ($192 billion) next year as he shoots for 6% growth and a range of ambitious plans with a lower budget deficit.

Prabowo presented the 2027 state budget plan to the parliament, including 4,097 trillion rupiah in expenditure, up 3.9% from projected spending this year, and a deficit of 2.4% of gross domestic product — lower than the 2.85% expected in 2026.

He unveiled a set of new initiatives, including plans to set up commodity exchanges on Jan. 1, 2027, establish international financial centers in Jakarta and Bali, and develop the Danantara Development Management Fund to support long-term projects such as Indonesia’s own electric car and the Great Sea Wall along the northern coast of Java.

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