Prabowo Affirms Pancasila Economy: Creating Prosperity, Not Just Statistical Figures

JAKARTA – President Prabowo Subianto has stressed the foundational principles of the Pancasila economy that must be implemented in Indonesia. He stated that the Pancasila economy aims for national prosperity, with growth that must not merely produce statistical figures on paper. ‘Brothers and sisters, what does an economy based on Pancasila mean? Economic development must not only yield statistics. It must result in a better life for all Indonesian citizens,’ Prabowo said during his address at the Pancasila Birth Anniversary ceremony at the Ministry of Foreign Affairs in Central Jakarta on Monday, 1 June 2026. The Head of State emphasised that the Pancasila economy is religious, humane, and strengthens national unity. He believes natural wealth is not merely an economic commodity. Natural wealth is a divine trust that must be managed responsibly for the greatest prosperity of the people and future generations. In other words, all citizens must receive their rightful entitlements. ‘Our farmers must receive timely fertiliser at fair prices. Our fishermen need fair market access, support, and empowerment. They are vital producers of protein, ensuring our people remain strong,’ he said. ‘The fate of our workers must be protected and supported,’ he added. The former Defence Minister also stressed that the Pancasila economy must prioritise national and public interests. Economic growth should not benefit only a select few. He acknowledged that the pricing of natural resources has long been dictated by foreign nations, with most profits from natural resources flowing overseas. ‘We must also invest heavily in downstreaming based on value addition. We need to strengthen foreign exchange management from exports and ensure Indonesia’s wealth benefits all citizens to the fullest extent,’ he stated. Furthermore, the Pancasila economy is egalitarian or people-centric. Therefore, cooperatives, as a key economic tool for society, must be reinforced. Additionally, the Pancasila economy must ensure social justice. ‘This is the goal of all our struggles. Economic growth must be accompanied by equitable distribution. Progress must be felt by all Indonesians,’ Prabowo concluded.