Indonesia’s Prabowo Vows Faster Growth, Fiscal Discipline
- Likely next president pushes for 14%-16% tax-to-GDP ratio
- Indonesia’s democracy is well functioning, Prabowo says
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Indonesia’s Defense Minister Prabowo Subianto, who has claimed victory in last month’s presidential election, signaled that he will uphold fiscal prudence and maintain a steady hand on the economy once he’s in the driver’s seat.
Prabowo, in a speech Tuesday at the Mandiri Investment Forum, said he is targeting economic growth of 8% in the next five years, while keeping focus on expanding the tax base and maintaining fiscal discipline. He said he will push for a tax revenue target of about 14%-16% of gross domestic product by ensuring wider compliance without necessarily resorting to more levies.