Indonesia's Prabowo Subianto announces new commodity export agency as rupiah hits all-time low
By
The Economist
There's a fresh bagel in here somewhere. We couldn't find it.
Summary
Indonesian President Prabowo Subianto delivered an aggressive parliamentary address on fiscal policy, rejecting market concerns over the tumbling rupiah (at an all-time low) and announcing a new state agency to control and sell the country's commodity exports. Rather than reassuring investors, he took a defiant nationalist stance, declaring Indonesia will no longer accept unfair treatment from other nations.
Key quotes
· 2 pulledWe no longer want to be a victim and endure unfair treatment of other countries to our nation.
I am here to say: it has to come to an end.
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