Prabowo Targets Rupiah at Rp16,800 to Rp17,500 per US Dollar by 2027

Prabowo Subianto delivered the Macro Economic Framework and Key Fiscal Policy Package (KEM-PPKF) for the preparation of the 2027 State Budget (APBN 2027). Prabowo targeted the rupiah exchange rate to be in the range of Rp16,800 to Rp17,500 per United States dollar (US$) in 2027. The President said the government would maintain national economic stability through measured fiscal and monetary strategies amid global economic uncertainty.

‘The rupiah exchange rate against the US dollar is within the range of Rp16,800 to Rp17,500,’ Prabowo said during the delivery of the KEM-PPKF 2027 at the DPR RI Plenary Session on Wednesday 20 May 2026.

Fiscal discipline is also a focus. Prabowo affirmed that the APBN deficit will be kept from widening.

‘Our deficit in 2027 from APBN will be kept within the range of 1.80 to a maximum of 2.40 percent of GDP, and we will continue to strive to reduce and narrow our deficit,’ he said.

The government targets state revenue in the APBN 2027 to be in the range of 11.82 percent to 12.40 percent of GDP. Government expenditure is planned to be in the range of 13.62 percent to 14.80 percent of GDP. The budget is directed to support various government priority programmes.

Prabowo emphasised that the APBN is prepared as an instrument to realise Indonesia’s aspirations to be a sovereign, just, and prosperous country.

The government expects Indonesia’s oil price, or Indonesian Crude Price (ICP), to be at between US$70 and US$95 per barrel in 2027. Oil lifting is targeted at 602,000 to 615,000 barrels per day. Gas lifting is pegged at 934,000 to 977,000 barrels of oil equivalent per day.

Prabowo is optimistic that the Indonesian economy can grow around 5.8% to 6.5% in 2027. This target is a step toward achieving 8% economic growth.

‘With the right economic strategy, prudent and sustainable fiscal policy, I am confident the Indonesian economy can grow in the range of 5.8 to 6.5 percent,’ he said.