JAKARTA - President Prabowo Subianto targets Indonesia's economic growth to reach 5.8 to 6.5 percent in 2027. The target is a foothold towards the 8 percent growth ambition in 2029.
In a speech in the DPR, Wednesday, May 20, Prabowo said the government would rely on a fiscal strategy that he called prudent but still aggressive in encouraging growth.
"With the right economic strategy, prudent and sustainable fiscal policies, I believe the Indonesian economy can grow in the range of 5.8 to 6.5 percent in 2027," said Prabowo.
The government also targets a significant increase in formal employment.
The proportion of formal jobs is pegged to rise to 40.81 percent in 2027 from the previous 35 percent.
"We will also open a large-scale job opportunity," said Prabowo.
Apart from the labor sector, the government has set a fairly high target in the agricultural and energy sectors.
The lifting of oil is targeted at the level of 602 thousand to 615 thousand barrels per day. Meanwhile, the lifting of gas is projected to reach 934 thousand to 977 thousand barrels of oil equivalent per day.
The price of Indonesian crude oil or ICP is assumed to be in the range of 70 to 95 US dollars per barrel. Prabowo said the government wanted economic growth to continue even though global pressure was still high.
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