President Prabowo calls for nationalism‑driven economy and vows to curb high micro‑credit rates in Indonesia

President Prabowo Subianto addressed the 18th National Assembly of HIPMI in Bandar Lampung, urging young entrepreneurs to view strong nationalism as the engine of economic growth. Citing the work of sociologist Liah Greenfeld and examples such as Japan, the United States, Western nations and China, he argued that national spirit underpins sustained prosperity and called the organization a vital incubator for future business leaders.

He also criticised the current credit system, noting that many small‑scale borrowers—especially “emak‑emak” participants in the Super Micro Credit (Mekaar) scheme of PT Permodalan Nasional Madani—are charged interest rates up to 24%, far higher than the 9‑10% rates faced by larger firms. Prabowo said this disparity contradicts the nation’s founding principles, including Pancasila and Article 33 of the Constitution, and pledged to correct the system to boost Indonesia’s economic recovery.