Karnoto Mohamad
The management of state-owned enterprises (SOEs) is entering a new phase. All SOEs will be placed under the management of the Investment Management Agency (BPI) of Dana Anagata Nusantara (Danantara), which was launched by President Prabowo Subianto on February 24, 2025. Prabowo envisions Danantara as one of the world’s largest sovereign wealth funds (SWFs) and a new engine to drive Indonesia’s economic growth toward 8 percent, as promised in his political campaign.
Currently, economic growth is at risk of stagnating at around 5 percent. In fact, it could slow down further to below 5 percent due to global geopolitical tensions and U.S. President Donald Trump’s economic policies, which have triggered a trade war, casting a dark shadow over the global economic outlook for 2025. Domestically, various social media hashtags criticizing Prabowo Subianto’s policies have emerged, amid weak consumer purchasing power and a wave of layoffs. To stimulate economic growth despite limited fiscal capacity due to the state budget deficit, the government is relying on SOEs as an alternative driver outside the state budget.
