Berliner Boersenzeitung - Ex-general Prabowo promises continuity on economic growth for Indonesia

EUR -
AED 4.058238
AFN 71.827065
ALL 90.387401
AMD 398.375914
ANG 1.977772
AOA 1014.420427
ARS 1707.560467
AUD 1.623598
AWG 1.98906
AZN 1.884164
BAM 1.949007
BBD 2.2264
BDT 137.495104
BGN 1.931411
BHD 0.417058
BIF 3342.241075
BMD 1.105033
BND 1.420587
BOB 12.93925
BRL 6.241119
BSD 1.105377
BTN 103.904652
BWP 15.335962
BYN 3.330382
BYR 21658.652946
BZD 2.223211
CAD 1.575192
CDF 2558.152063
CHF 0.923609
CLF 0.02784
CLP 1095.695402
CNY 7.370959
CNH 7.375092
COP 3667.881826
CRC 499.073985
CUC 1.105033
CUP 26.530366
CVE 109.883979
CZK 24.387868
DJF 196.386709
DKK 7.476036
DOP 67.068049
DZD 151.387143
EGP 59.047681
ERN 16.5755
ETB 180.49487
FJD 2.50809
FKP 0.832125
GBP 0.835367
GEL 2.825984
GGP 0.832125
GHS 12.944233
GIP 0.832125
GMD 81.772227
GNF 9793.862669
GTQ 8.446787
GYD 231.269124
HKD 8.668561
HNL 29.724929
HRK 7.479982
HTG 144.839083
HUF 365.709653
IDR 20173.709179
ILS 3.527822
IMP 0.832125
INR 103.949434
IQD 1675.804339
IRR 2106276.372842
ISK 136.615251
JEP 0.832125
JMD 175.109641
JOD 0.783436
JPY 176.55668
KES 143.642883
KGS 96.633944
KHR 4555.245976
KMF 488.424308
KPW 994.529939
KRW 1475.954336
KWD 0.342273
KYD 0.921214
KZT 490.972005
LAK 24875.968069
LBP 98990.946199
LKR 367.608649
LRD 187.92009
LSL 18.424912
LTL 3.262876
LVL 0.668423
LYD 7.128154
MAD 10.888345
MDL 20.163267
MGA 5045.55029
MKD 61.565799
MMK 2320.265419
MNT 3983.538744
MOP 8.930813
MRU 44.706587
MUR 52.334293
MVR 17.011781
MWK 1916.870627
MXN 20.571074
MYR 4.506881
MZN 70.609884
NAD 18.424912
NGN 1488.369162
NIO 40.679313
NOK 10.565964
NPR 166.247045
NZD 1.992823
OMR 0.424904
PAB 1.105477
PEN 3.769065
PGK 5.042515
PHP 70.573506
PKR 305.678232
PLN 4.405381
PYG 6852.332655
QAR 4.029682
RON 5.348546
RSD 117.608664
RUB 91.498051
RWF 1632.952539
SAR 4.171329
SBD 8.940545
SCR 15.377943
SDG 664.677448
SEK 11.081594
SGD 1.42257
SHP 0.828019
SLE 25.309141
SLL 23172.000929
SOS 631.715254
SRD 41.443188
STD 22871.958538
STN 24.41556
SVC 9.672286
SYP 14367.642795
SZL 18.412322
THB 37.466201
TJS 10.197487
TMT 3.867617
TND 3.327302
TOP 2.660655
TRY 55.53377
TTD 7.509031
TWD 36.478922
TZS 2938.969804
UAH 50.231124
UGX 4549.266655
USD 1.105033
UYU 44.805247
UZS 13232.296828
VES 995.072
VND 28376.702976
VUV 132.541962
WST 3.080611
XAF 655.957
XAG 0.022062
XAU 0.00028479873
XCD 2.986408
XCG 1.99221
XDR 0.781316
XOF 655.957
XPF 119.331742
YER 261.341095
ZAR 18.543895
ZMK 9946.661002
ZMW 22.577916
ZWL 355.820276
SSP 6394.301253
MXV 2.310758
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

Ex-general Prabowo promises continuity on economic growth for Indonesia
Ex-general Prabowo promises continuity on economic growth for Indonesia / Photo: Yasuyoshi CHIBA - AFP

Ex-general Prabowo promises continuity on economic growth for Indonesia

Once a feared general under late dictator Suharto, Indonesia's likely new president Prabowo Subianto now faces the challenge of honouring his campaign pledges to maintain the country's economic growth.

Text size:

According to ongoing official and preliminary counts that show him on course for a majority, Prabowo looks set to helm the world's third-largest democracy after Wednesday's presidential election.

Currently serving as defence minister, Prabowo has embraced the popular agenda of outgoing leader Joko Widodo, who broke into an Indonesian political scene long dominated by Suharto-era elites and who beat him twice at the polls.

Prabowo's rise to the cusp of the presidency came after pledges to carry on the policies of Jokowi, as the incumbent leader is popularly known, including a development drive and a move of the capital from traffic-clogged Jakarta to Nusantara on Borneo island later this year.

"He'll surely continue what Jokowi has done, especially IKN (the new capital). There's political and economic interest tied to the project, so he'll definitely continue it," said Ambang Priyonggo, a political analyst at Multimedia Nusantara University.

Indonesia enjoyed steady economic growth of around five percent annually under Prabowo's former rival, who was constitutionally barred from seeking another term, so Prabowo's promises and recruitment of Jokowi's eldest son as running mate have proved appealing.

Prabowo made it a campaign promise to turn Indonesia, a G20 member, into an "advanced and developed" economy.

To do that he has supported the resource nationalism of Jokowi, particularly in the nickel sector where Jakarta has imposed export restrictions in a bid to become a key player in the electric vehicle supply chain.

That has ramifications for climate change, a subject Prabowo said little about on the campaign trail.

Indonesia is one of the world's biggest fossil fuel polluters and Prabowo has backed gradually reducing the country's reliance on them, but his family retains ties to the coal industry and processing vast sums of nickel requires coal-fired power plants.

Prabowo has promised free school meals for students and hinted at potential revenue reforms that suggest he could spend more freely than his predecessor, but his other campaign pledges indicate he will largely stay the course Jokowi has charted.

"A Probowo victory bodes policy continuity," said Anushka Shah, senior credit officer at Moody's ratings agency.

- 'More toxic' -

Less clear are the 72-year-old's plans for the country's democracy -- and whether there will be a slide back toward the days when he was accused of ordering the kidnapping of activists, including more than a dozen who have never been found.

"We are seeing a democracy setback with this victory," said Priyonggo.

"Because he's such a typical ultra-nationalistic figure, there's a possibility his government will be more centralistic."

Questions have also been raised about the appropriateness of Jokowi's indirect support for Prabowo's campaign.

Some legal experts and rights groups have accused Jokowi of improperly using government funds to tilt the election in Prabowo's favour -- allegations the president has rejected.

Some critics worry that Prabowo will seek to weaken opposition voices and the press.

Last week he skipped a press freedom event where his rivals signed a declaration pledging to protect that right.

In 2014 he derided direct elections as Western imports not suitable for the country.

But in a January speech he said he supported both democracy and press freedom.

"Press freedom, checks and balances, they are there to control those in power," he said.

But critics fear he could continue Jokowi's practice of using defamation laws to silence his opponents, weakening the country's young democracy.

"Criminal defamation articles are Jokowi's weapons to silence critics. Prabowo is likely to use that tactic, if not more," said Andreas Harsono of Human Rights Watch.

"He might also change and use more toxic laws than what Jokowi did."

Prabowo was the only candidate who refused to answer a human rights questionnaire from HRW during the campaign.

Others were more optimistic about a Prabowo presidency because of the constraining forces of civil society, freedom of speech -- and voters who can evict him from office at the next election if they are so inclined.

"Indonesian voters' enthusiasm for Prabowo does not represent a disillusionment with democracy," wrote Ben Bland, director of Chatham House's Asia-Pacific programme, in an essay in Foreign Affairs before the vote.

"It reflects their conviction he will uphold Jokowi's positive economic legacy -- and their implicit faith that their democratic institutions can rein in even a strong-willed president."

(B.Hartmann--BBZ)