Prabowo Urges Pancasila-Based Economic Transformation to Ensure Equitable Welfare
JAKARTA — President Prabowo Subianto has stressed the need for national economic transformation towards a fully Pancasila-based economy ensuring equitable welfare distribution.
During the Pancasila Birth Anniversary ceremony in Jakarta, Prabowo highlighted that economic growth has not been evenly enjoyed by all Indonesians, necessitating economic transformation.
‘Transformation from an economy not yet fully based on Pancasila to one that truly adheres to Pancasila,’ Prabowo said on Monday, 1 June 2026.
He elaborated on what a Pancasila-based economy entails: ‘First, a religious economy, a humanistic economy, and one that strengthens national unity.’
He cited Indonesia’s natural wealth as a divine trust to be managed responsibly for national prosperity and future generations.
Therefore, Indonesia’s economic development must not only yield statistical figures but also deliver tangible improvements in the lives of all citizens.
Prabowo noted this is being implemented through measures such as nutrition assistance for the most vulnerable groups, fertiliser subsidies for farmers, better market access for fishermen, and worker protections.
He stated Indonesia’s economy must prioritise national and public interests, not just benefit a few.
‘Pancasila economics is an egalitarian, people-oriented economy. Our economic blueprint is designed by our nation’s founders,’ Prabowo said.
He specifically referenced Article 33 of the 1945 Constitution, which states the economy should be structured as a collective effort based on family principles, with the state managing natural resources and key production sectors for public interest.
Furthermore, Indonesia’s economy must be grounded in social justice to ensure equitable distribution and shared progress.
‘We are not just talking about development; we now have bolder aspirations. We are and will continue to implement national transformation strategies. Our strategy is fundamentally to align with Pancasila,’ he said.