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Candidates must understand economy when it matters most, businesses say
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Central Java Governor Ganjar Pranowo (center), accompanied by his wife Siti Atikoh Supriyanti (fourth right), greets people as he exercises at Alun-Alun Jember in East Java on May 7. Ganjar, the Indonesian Democratic Party of Struggle's (PDI-P) presidential hopeful, visited Jember as the 2024 general election nears. ( Antara/Seno)
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s the general election draws closer and political parties seek to consolidate behind popular names, Indonesian businesses have expressed concern that the economy may not be top of mind for any of the current presidential hopefuls based on their backgrounds.
Indonesian Employers Association (Apindo) advisory council chairman Sofjan Wanandi said none of the three candidates topping most surveys was considered to understand economic affairs well.
“[Whoever wins as president], we hope the vice president understands the economy, because the biggest challenge for the next five years, for us businessmen, is the economy,” Sofjan said on Thursday.
The emphasis, explained Sofjan, was on the global context and how it related to Indonesia.
While not in total ruin, the global economy is not in a good shape, with persistent inflation in many countries despite high interest rates and several developed economies on the brink of, or already in, recession.
Indonesia’s economy has proven resilient amid all of this, but it is not immune to a global downturn, and the next administration may need to deal with reduced demand for Indonesian export goods.
Earlier this month, Bank Indonesia (BI) announced that annual headline inflation had been brought back under control faster than expected as it had returned to the central bank’s target window of 3 plus or minus 1 percent.
