TEMPO.CO, Jakarta - Indonesian President Prabowo Subianto has again brought up the issue of stock price movements. According to the Head of State, there is nothing to worry about, including when stock prices fluctuate, as long as Indonesia is still producing food for its own people.
"Don't be afraid of stocks going up or down. Do you have stocks, sir? No? Don't you have stocks, sir?" said Prabowo while giving a speech at the planting location in Ogan Ilir, South Sumatra, Wednesday, April 23, 2025, as quoted by Antara.
On that occasion, Prabowo also brought up stock investors. "Yes, those who have stocks, I understand that you have also done a service. But as long as we can produce food, our country is safe, there is no need to worry. Our country is strong, our country is rich," he said.
Prabowo explained that Indonesia is a strong country and rich in natural resources. He also wants wealth not to be centralized and enjoyed by a handful of people.
The President also appreciated all parties involved in accelerating agricultural production, including the Minister of Agriculture Amran Sulaiman, regional heads, farmer groups and other stakeholders.
"I thank you, Minister of Agriculture. If I were in the army, how many times would I be promoted? Our Minister of Agriculture is indeed black because he is always in the field. If the Minister of Agriculture is not black, I am suspicious," Prabowo joked.
Previously, Prabowo was recorded as commenting several times on the volatility of the JCI and linking it to food security. "Food is the main thing. Stock prices may go up and down but (if) food is safe, the country is safe," Prabowo said at a Plenary Cabinet meeting at the Merdeka Palace, Central Jakarta, Friday, March 21, 2025.
While leading the Cabinet Meeting, Prabowo also joked by saying that several of his ministers looked stressed due to the decline in the JCI. Among those mentioned were the Minister of Maritime Affairs and Fisheries of the Republic of Indonesia Sakti Wahyu Trenggono and the Minister of Housing and Settlements Maruarar Sirait. The President even looked for the sitting positions of the two ministers while joking.
"I see that only a few people are stressed out about the falling stock prices, among you. Maruarar, who else is that? Trenggono, where's Trenggono? Oh, sit next to each other," Prabowo said at that time.
The President also mentioned that there were other ministers who seemed completely unaffected by the decline in the JCI, one of whom was the Head of the Agency for the Acceleration of Poverty Alleviation, Budiman Sudjatmiko. In a joking tone, Prabowo said that Budiman remained calm because he did not have shares. "Not Budiman, Budiman is calm because he doesn't have any shares," Prabowo said.
Prabowo's statement was in response to stock trading on the Indonesia Stock Exchange which had been temporarily suspended (trading halt) several days earlier, namely on Tuesday, March 18, 2025 due to a drastic drop in points. The Center of Economic and Law Studies (Celios) assessed that the plunge in the JCI occurred because the government had not succeeded in convincing the public and investors about the future of the Indonesian economy.
According to Celios Executive Director Bhima Yudhistira, the lack of trust in the government has been seen in recent times. "Our trust in the government, in public policy, can be said to be minus at this time," said Bhima on Tuesday, March 18, 2025.
One of the causes, said Bhima, is the increasingly active role of the military in the era of President Prabowo Subianto. For example, in the Free Nutritious Meals (MBG) program to the construction of a food estate in Merauke, Papua. The involvement of the TNI in posts other than the military, said Bhima, raises doubts about the future of the Indonesian economy.
Hendrik Yaputra and Sultan Abdurrachman contributed to the writing of this article.
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