Indonesia Economic News

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Everyone does hope that it is business as usual.

Third time’s the charm: Prabowo claims victory in Indonesia presidential election

This followed the results of an unofficial “quick count” by several independent pollsters, which put him firmly ahead of his two rivals in the race, former Jakarta governor Anies Baswedan and former Central Java governor Ganjar Pranowo.

“Prabowo’s apparent one-round victory should remove uncertainty over who will lead the next administration. He, of course, appears to be Widodo’s choice of successor and has promised policy continuity, which should provide some reassurance to investors,” said Barclays economist Brian Tan.

“That said, we sense that investors are also cautiously watching what a President Prabowo would mean for fiscal policy, and whether the prudence under Finance Minister Sri Mulyani Indrawati will be maintained into the next term of government.”

“We may see business as usual, so economic growth may stay at around 5 per cent. The hope is that the president and vice-president will pick an economic team from technocrats to ensure economic policies are evidence-based and use accurate data, not because of economic nationalism or the interest of certain groups,” he said.

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