[Indonesian News] Prabowo Warns of Global Turmoil, Urges Indonesia to Prepare
I. Prabowo Warns of Global Turmoil and Urges Indonesia to Prepare
Indonesian President Prabowo issued a reminder via a live broadcast by the Presidential Secretariat, stressing that Indonesia must be fully prepared to address the economic and political challenges arising from global conflicts, with particular vigilance toward the potential ripple effects of ongoing tensions in the Middle East.
He pointed out that the current rapid transformation of the global geopolitical landscape will exert multifaceted impacts on Indonesia’s economic and social stability. Escalating regional conflicts will heighten global economic uncertainty, disrupt international trade flows, undermine investor confidence, and create volatility in energy markets—thereby driving up inflation and weighing on economic growth. Ultimately, these external shocks could spill over into Indonesia’s domestic economy.
Prabowo emphasized that the government will neither shy away from nor ignore risks; instead, it will remain highly vigilant, strengthen national resilience and social cohesion through proactive policies and advance preparedness, and proactively address all potential external shocks.
Source: Dora Looks at Indonesia
II. Finance Minister Says EV Subsidies May Be Extended
Indonesia’s Finance Minister is considering extending the electric-vehicle incentive policy and is currently carefully assessing its impact on the state budget (APBN), as the policy could widen the budget deficit.
Speaking at the Ministry of Finance, he stated that a reassessment would be conducted and that incentives would be maintained if the results were favorable. He emphasized that, against the backdrop of heightened global economic uncertainty, mounting pressure on energy subsidies, and uncertain export performance, the government must adopt a prudent fiscal policy.
He stated that the incentive policy could be extended as long as its impact on the budget deficit remains manageable; however, if the deficit were to widen substantially, a reassessment would be necessary. The Ministry of Finance will re-calculate the specific impact of the electric-vehicle incentive policy on the budget deficit, and if the impact is minimal, there would be no cause for concern.
Previously, the Minister of Industry submitted policy recommendations on motor-vehicle incentives to the Ministry of Finance. The proposed incentive scheme is more detailed than the automotive stimulus measures implemented during the COVID-19 pandemic, covering multiple aspects such as vehicle segmentation, technologies employed, and the local content level (TKDN).
In addition, the government plans to prioritize incentives for first-time electric vehicle buyers to accelerate the widespread adoption of EVs in Indonesia; specific details will be released progressively.
Source: Daily Indonesia
III. Indonesia Emphasizes Agricultural Reform at the WTO Forum
Indonesian Trade Minister Budi Santoso stated that Indonesia will push for a more comprehensive integration of discussions on agricultural reform in the run-up to the 14th WTO Ministerial Conference in Cameroon, scheduled for March 26–29, 2026.
As the coordinating country of the G33, Indonesia advocates leveraging this meeting as an opportunity to reinvigorate the WTO’s agricultural negotiations, which have been stalled for many years. Any reform must be development-oriented, with food security, the welfare of smallholder farmers, and national development priorities serving as its core guiding principles.
The G33 Ministerial Meeting will focus on revising the Joint Ministerial Statement, with members reaffirming their support for a rules-based, fair, and inclusive multilateral trading system centered on the WTO. Indonesia will continue to advocate for safeguarding the interests of developing countries, with a particular emphasis on advancing issues such as public stockholding, the Special Safeguard Mechanism, and special and differential treatment into the reform agenda, thereby ensuring that development priorities remain at the forefront of the discussions.
Source: Dora Looks at Indonesia
Editor: Zhu Rencheng
Proofread by: Li Jifeng
Reviewed by: Wei Shenghua
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