Indonesia's growth strategy in focus ahead of presidential vote

Candidates set ambitious targets, compete over industrial policy

20240206 Indonesia election debate

Indonesian presidential candidates Ganjar Pranowo, left, Prabowo Subianto, center, and Anies Baswedan hold hands as they attend a debate in Jakarta in December 2023. © Reuters

NANA SHIBATA and ERWIDA MAULIA, Nikkei staff writers

JAKARTA -- As Indonesia looks toward the presidential election on Feb. 14, the candidates have set ambitious growth targets of up to 8% annually, hoping to vault the Southeast Asian country to advanced-economy status by 2045.

But the latest gross domestic product figures show that Indonesia's growth rate has stayed around 5%, and that the economy continues to face uncertainty abroad, raising questions about how the next president will reach that lofty goal.

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