JakartaPost-May 22, 2026
P resident Prabowo Subianto’s unprecedented speech before lawmakers underscored mounting pressure on his administration to restore market confidence amid growing concerns over economic instability and signs of democratic backsliding reminiscent of the late New Order era. Prabowo made a rare appearance at the House of Representative plenary session on Wednesday to outline the government’s macroeconomic framework and fiscal policy direction, saying national leaders must directly explain the country’s economic course amid mounting geopolitical and geo-economic uncertainty. The move broke with convention, as the presentation is typically delivered by the finance minister and serves as the basis for drafting the following year’s state budget. It also marked the first time a sitting president attended a regular House plenary session outside the annual state address every August. In his fiery 95-minute speech, Prabowo laid out ambitious economic targets for next year, including growth of between 5.8 and 6.5 percent, inflation of between 1.5 and 3.5 percent and the rupiah trading between Rp 16,800 and Rp 17,500 against the US dollar. Striking an upbeat tone, he said, “With the right fiscal policy, I believe our economy can continue to grow.” The address came amid mounting unease over the government’s economic management, with the rupiah weakening to Rp 17,719 per US dollar on Tuesday, its lowest level since the 1998 Asian financial crisis, while the Jakarta Composite Index (JCI) fell from 6,599 to 6,370 on the same day.
Analyst Agung Baskoro from Trias Politika Strategis believed the speech was intended to calm the public and market concerns over Prabowo’s increasingly centralized and populist economic approach. “The speech seemed intended to ease both public sentiment and market reaction,” he said, adding that “the President also appears to be trying to ensure there is solid political support from coalition parties, lawmakers and state institutions behind his economic agenda.” Read more at:
https://www.thejakartapost.com/indonesia/2026/05/22/prabowos-rare-address-raises-political-concerns.html?utm_source=(direct)&utm_medium=home_headlines.
