Indonesia President Prabowo launches National Council for Financial Welfare

President Prabowo Subianto has inaugurated the National Council for Financial Welfare, a new body aimed at shifting Indonesia’s economic focus from mere banking access to enhancing household financial resilience. Replacing the National Council for Financial Inclusion, the new council is formalized under Government Regulation No. 42 of 2024 and is directly led by the President.

Coordinating Minister for Economic Affairs Airlangga Hartarto serves as executive chairman, with Financial Services Authority (OJK) chief Friderica Widyasari Dewi as vice chairperson. The council's strategic pivot focuses on three pillars: financial wellness, resilience against economic shocks, and long-term financial security at the household level.

During the launch at the National Coordination Meeting of the Regional Financial Access Acceleration Team (TPAKD), President Prabowo emphasized that economic growth must be tangibly felt by all layers of society, including farmers, fishermen, and MSMEs. He stressed that true prosperity is measured by real increases in household income and purchasing power rather than just statistical data.