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| Prabowo Calls for People-Centered Economic Shift: “Time to Stop Favoring the Elites” |
Indonesian President Prabowo Subianto delivered a powerful speech at the St. Petersburg International Economic Forum (SPIEF) 2025 on Friday, June 20, 2025, held at the ExpoForum Convention and Exhibition Centre in Russia. In his keynote address, Prabowo outlined a new economic direction for Indonesia—one that puts the interests of everyday people front and center.
Although Indonesia’s economy has seen a steady growth rate of around 5 percent annually over the past seven years, Prabowo pointed out that the benefits of that growth haven’t been shared fairly across all social groups. “Sure, the numbers look good, but if only a few enjoy the success, what’s the point?” he said frankly to global leaders and economic experts.
Four Pillars of Prabowo’s Administration
President Prabowo introduced four key priorities that will guide his administration’s development strategy:
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Achieving food self-sufficiency
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Energy independence
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Improving education quality
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Accelerating national industrialization
He emphasized that Indonesia’s vast natural resources must be managed wisely—not just exploited for profit, but used to uplift the people. “These resources should benefit the many, not the few,” he stressed.
Criticizing Neoliberalism: “It’s Time to Forge Our Own Path”
Prabowo took a bold stance by criticizing neoliberal economic models and classic free-market capitalism, which have heavily influenced Southeast Asian elites—including those in Indonesia—for the past 30 years. According to him, these models have failed to create equal opportunities for everyone.
“For three decades, we followed someone else’s playbook. And look where it got us—inequality, poverty, and missed potential,” he said.
Instead, he proposed a “middle way”—a balanced strategy that takes the creativity, innovation, and initiative from capitalism, while also allowing for strong government intervention to protect the vulnerable and promote fairness.
Fighting Corruption and Collusion: The Role of Clean Governance
President Prabowo warned of a major threat to developing countries like Indonesia: state capture—a dangerous mix of collusion between big-money interests and corrupt officials. He said this type of corruption prevents real progress and keeps the poor from moving up the economic ladder.
“If corruption and collusion run wild, how can we expect the people to thrive?” he asked.
For Prabowo, the solution is clear: build a clean, transparent government that truly serves the people. “Our mission is simple: bring the greatest good to the greatest number of people,” he declared.
A Unique Economic Path for a Unique Nation
In closing, Prabowo emphasized that there’s no one-size-fits-all solution for economic growth. Every country, including Indonesia, must craft an approach that reflects its own culture, values, and identity.
Indonesia, under his leadership, will move toward a fairer, more inclusive economy—one that doesn’t just grow, but grows for everyone.
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