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TEMPO.CO, Jakarta - President Prabowo Subianto is hoping Indonesia could manufacture its own vehicles and electronic products.
While addressing the parliament during a plenary session on Wednesday, May 20, the president expressed his hope for industrialization in Indonesia to allow domestically produced cars, motorcycles, and even mobile phones.
"We need industrialization, we shall produce our own cars, motorcycles, televisions, computers, and cellphones," the president said at the parliament building in Jakarta today.
This industrialization, he said, will be expedited through the country's sovereign wealth fund, Danantara, through accelerated financing.
The former defense minister said Danantara could inject working capital to speed up domestic industrialization, which he hoped would result in Indonesia's own electronic products.
"We mustn't become merely a market for other nations," he said, adding that he has gathered experts and professionals to realize his goal.
"I have gathered professors and experts, and I told them: 'it is your dedication for this nation to realize this. We must not give up, we must not feel inferior about this,'" he said.
Prabowo attended the House of Representatives' plenary session to present the framework for macroeconomic and fiscal policy (KEM-PPKF), becoming the first Indonesian president to do so.
In his speech, Prabowo targeted the rupiah exchange rate to be in the range of Rp16,800 to Rp17,500 per US dollar in the 2027 KEM-PPKF. "Our fiscal and monetary strategy must be able to hold our exchange rate stable against world currencies," Prabowo said.
From a fiscal perspective, the government plans to set the 2027 state budget deficit at around 1.8 to a maximum of 2.4 percent of the GDP. This figure demonstrates the government's strong commitment to continuously reduce and narrow the budget deficit, considering that the realization of the 2025 state budget deficit reached 2.92 percent, which is 0.8 percent lower than the maximum threshold of 3 percent.
Alfitria Nefi Pratiwi contributed to the writing of this article
Read: Prabowo Says New Export Agency Secured $150 Billion in Savings
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