President calls for economic transformation rooted in Pancasila

President Prabowo Subianto called for a national economic transformation towards an economy fully rooted in Pancasila to ensure equitable prosperity. During the virtual observance of Pancasila Day held in Jakarta on Monday, he highlighted that economic growth has yet to be evenly shared among all Indonesians, necessitating national transformation. “Transform from an economy not fully based on Pancasila to one that truly is. Brothers and sisters, what does a Pancasila-based economy mean? First, a faith-based economy, a humanistic economy, and one that strengthens national unity,” the President said. He gave examples of how Indonesia’s natural wealth is a trust from God Almighty to be managed responsibly for the nation’s prosperity and future generations. Therefore, Prabowo said Indonesia’s economic development must not only produce statistical figures but also translate into tangible improvements in the lives of all citizens. This, according to the President, is being implemented through measures such as providing nutrition to vulnerable groups, fertilizer assistance to farmers, better market access for fishermen, and worker protections. Prabowo stated Indonesia’s economy must prioritise national and public interests, not just benefit a select few. “The Pancasila economy is an egalitarian, people-centric economy. Our economy is based on the blueprint designed by our nation’s founders,” Prabowo said. Specifically, Prabowo cited Article 33 of the 1945 Constitution, which states that the economy is structured as a collective effort based on familial principles, with the state managing natural resources and key production sectors for public benefit. Moreover, Indonesia’s economy must be grounded in social justice to ensure economic equality and progress for all. “We are not merely talking about development; we now have bolder aspirations. We are and will continue implementing national transformation strategies. Our strategy is essentially to align with Pancasila’s guiding principles,” Prabowo Subianto said.