St. Petersburg, Russia. Indonesia welcomes around 5 million new citizens every year -- nearly the entire population of Singapore -- a demographic surge that President Prabowo Subianto said presents both vast opportunities and serious challenges for Southeast Asia’s largest economy.

Speaking on Friday at the St. Petersburg International Economic Forum, an event opened by Russian President Vladimir Putin, Prabowo underscored the sheer scale of Indonesia’s population and the urgency to build inclusive and sustainable economic growth.

“Indonesia is the fourth largest country in the world by population. Every year, there are 5 million new Indonesian citizens arriving in the world,” Prabowo said during his address, broadcast by Beritasatu TV. “Any Indonesian leader must think about how to feed 5 million more mouths every year.”

Food Security First
Since assuming office in October 2024, Prabowo said his first priority has been achieving food self-sufficiency. He touted major gains in rice production as an early sign of progress.

“Our rice output has increased by 50 percent -- the largest jump in Indonesia’s history. Today, we have 4 million tons of rice in government reserves, also a record, all within just a few months of this administration,” he said.

Prabowo added that energy independence is also a national goal, with the government developing renewable sources while revitalizing dormant oil and gas fields.

Education, he emphasized, is another cornerstone of his agenda: “We must prepare our people to compete in the 21st century. Education is critical for that.”

He also laid out plans for accelerating industrialization to move the country away from raw material exports and toward value-added manufacturing -- a key to economic resilience.

Rejecting One-Size-Fits-All Economics
In a pointed critique of prevailing global economic models, Prabowo argued that many developing countries have been misguided by trying to emulate the economic philosophies of major powers, particularly neoliberal capitalism.

“In the past 30 years, we’ve seen the dominance of neoliberal capitalism and free-market ideology. Indonesian elites followed this philosophy -- but it often did not match our realities,” he said.

He warned that such models tend to produce extreme inequality, where a small elite controls most of the wealth and resources.

Instead, Prabowo advocated for a balanced approach that combines the strengths of socialism and capitalism. His government is seeking a middle path -- one that ensures fair wealth distribution, yet still welcomes innovation and business.

He stressed the need for government intervention to combat poverty and hunger while continuing deregulation to support a competitive business climate.

“Our guiding principle is the greatest good for the greatest number. That begins with a government free from corruption -- that is the key to rapid development,” he said.

Prabowo closed his remarks by highlighting Indonesia’s intention to deepen international partnerships, saying that he attended the forum to build strategic trust, to explore opportunity – “and to make deals that benefit our shared survival and shared success.”