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resident Joko '€œJokowi'€ Widodo made a surprise visit to the Indonesia Stock Exchange (IDX) on Tuesday to shore up market confidence amid growing concern over inconsistencies in government policies.

The President was greeted with a surge in share prices that propped up the Jakarta Composite Index (JCI) by 0.7 percent to close at 5,523, the highest level in the local stock market'€™s history. Jokowi expressed optimism that the JCI could soar to 6,000 before the end of the year, because of sustained foreign fund inflows. '€œThis reflects a vote of confidence among investors in our country, as people still have faith in the outlook of the Indonesian economy,'€ the President told reporters.

The State Palace'€™s protocol staff said Jokowi also intended to visit Kwitang '€” a subdistrict in Central Jakarta known as the city'€™s foreign exchange trading center '€” to talk with local dollar dealers about developments in the currency market. However, he canceled the plan without giving a detailed reason.

The rupiah also strengthened to below Rp 13,000 per US dollar , according to the Jakarta Interbank Spot Dollar Rate (JISDOR). Having weakened to the 13,100-level this month, the currency stabilized recently as concerns over the US interest rate hike subsided.

'€œAs soon as the state budget is disbursed, our economy will liftoff, with an improved investment climate boosting the confidence [of investors] that can strengthen the rupiah,'€ Jokowi said.

Jokowi'€™s visit came amid growing criticism of the government'€™s implementation of a number of its policies, such as the government'€™s decision to annul a plan to impose taxes on toll roads, as well as a plan to require banks to report tax cuts on time deposits.

The policies have been cancelled despite the country'€™s desperate need for money to finance its infrastructure-spending program.

Indonesia might face a potential revenue shortfall of Rp 282 trillion according to the World Bank, which predicted a possible swelling of the fiscal deficit due to Jokowi'€™s overly ambitious tax collection target.

Other than the tax policies, the President also backtracked on implementing a new visa-free policy to attract tourists, a new regulation increasing car-purchase allowances for lawmakers and on the censorship of extremist websites, after the policies attracted significant media coverage.

Prior to his IDX visit, Jokowi visited state-owned electricity firm PLN on Tuesday to encourage the company to continue to be optimistic regarding the completion of a large power procurement program of 35,000 megawatts (MW) in five years. Observers fear it is unrealistic.

'€œThis is not an easy target. Previously, we failed to realize the development of 10,000 MW in eight years. I have said to [PLN] management, general managers and heads of divisions that this is a realistic target but it can be achieved only with hard work,'€ Jokowi told reporters after his meeting with PLN staff and employees.

Prolonged permission processes as well as delayed land acquisitions due to protests from local residents have marred power-plant development in the country and have raised concerns over the country'€™s ability to realize the ambitious 35,000 MW project, which will be influential in supporting economic growth.

Jokowi said the government would continue to be directly involved in settling any problems.

'€œResolving problems is impossible without knowing the real situation in the field. It'€™s necessary to be directly involved,'€ he said.

In particular, he pointed out several actions from himself, Vice President Jusuf Kalla and PLN'€™s president director in settling the stalled development of the Batang coal-fired power plant in Central Java.