Prabowo: I Am Not Against Free Markets

Prabowo: I Am Not Against Free Markets

Jakarta, CNBC Indonesia - President Prabowo Subianto has affirmed that he is not against free market mechanisms. He reiterated his support for free markets with protection for small capital owners.

“Once again, it is not true that I am against free market mechanisms. However, I understand that free markets can be misused. Poor people are asked to compete with very large investors,” said Prabowo during the inauguration of the Ibu Marsinah Museum and a halfway house in Nganjuk Regency, East Java, Saturday (16/5/2026).

Indonesia adheres to family values, so the government must intervene to protect small people, he added.

“In foreign terms, or cool terms, that is affirmative action,” he said.

On the same occasion, he also mentioned the weakening of the Rupiah exchange rate against the US Dollar, which has now reached a level of IDR 17,600/USD, the weakest in history. Although the rupiah exchange rate has fallen sharply, Prabowo dismissed negative assumptions about Indonesia’s economy, which is predicted to be bleak.

“I believe that there are always those who say ‘Indonesia will collapse, it will be chaotic’… The people in villages don’t use dollars,” said Prabowo.

Although the rupiah has reached its lowest level, he is optimistic that conditions in Indonesia are still safe, both in terms of food and energy, even though many other countries are panicking.

“Food is secure, energy is secure, many countries are panicking, but Indonesia is still okay,” he said.

(hsy/hsy)