Prabowo Proud Danantara Cuts 250 State-Owned Enterprises: I Was Shocked There Were 1,077

President Prabowo Subianto has admitted he was shocked to discover that the number of State-Owned Enterprises (SOEs) in Indonesia totalled 1,077. He made the statement during a plenary cabinet session at the Merdeka Palace on Monday, 20 July 2026. Prabowo said he only learned the true figure after officially becoming President. During his time serving in the cabinet of President Joko Widodo, he had assumed the number of SOEs ranged between 300 and 350. “When I was in President Joko Widodo’s cabinet, I followed developments but did not master the figures. I thought the number of SOEs was around 300 to 350. I was shocked when I became president and received a report that the number of SOEs was 1,077,” Prabowo said. He added that the situation was complicated by SOEs creating subsidiaries, which in turn created their own subsidiaries and sub-subsidiaries. However, Prabowo expressed pride and gratitude towards the leadership of the Danantara sovereign wealth fund, which has managed to reduce the number of SOEs by 250 through closures and mergers as of 31 July 2026. “I am proud that the Danantara leadership, in its first 18 months, has succeeded in reducing the number from 1,077. By the end of this month, 31 July, they have closed, consolidated, and merged, thus reducing the number by 250 SOEs,” he stated. The President also highlighted Danantara as a historic national achievement, noting it is the first time Indonesia has established an institution to manage a sovereign wealth fund. He explained that Danantara consolidates and manages state funds and wealth in an orderly manner, serving as a reserve and energy source for the future of Indonesia, its children, and grandchildren.