National Awakening Day Becomes a Moment of Reflection on Indonesia's Economic Growth, IBC Highlights the Strengthening of 3C

Today’s National Awakening Day comes amid a national conversation about the direction of Indonesia's economy. In his speech on the Macroeconomic Framework and Principles of Fiscal Policy for 2027, the President of the Republic of Indonesia, Prabowo Subianto, stated that with the right economic strategy and prudent, sustainable fiscal policy. “I am confident that Indonesia's economy can grow within the range of 5.8 to 6.5 percent in 2027, heading toward 8 percent economic growth by 2029,” the President said. This message serves as a reminder that the resilience of the national economy cannot be measured solely by its ability to keep growing, but also by the strength of the foundation of that growth.

This reflection is also in line with the Indonesian Business Council (IBC)'s earlier view that Indonesia's economic growth of 5.61 percent in the first quarter of 2026 needs to be read not only in terms of its magnitude, but also in terms of its quality and sustainability. A high growth figure remains an important achievement, but it must continue to be supported by a stronger foundation so that it can truly translate into productivity, quality jobs, and more equitable improvements in welfare.

CEO IBC Sofyan Djalil said that National Awakening Day can serve as a space to revisit what needs to be strengthened together so that Indonesia's economy becomes more resilient in the future. “Indonesia has great potential, but today's experience reminds us that potential does not automatically turn into progress. Economic growth must be supported by consistent implementation, the ability to keep adapting, and a development direction that delivers broader benefits to society,” Sofyan said.

Within the framework outlined in the IBC Business Outlook 2026, strengthening Indonesia's economic foundation requires three main prerequisites: certainty, capability, and capital, or 3C for short. Certainty relates to regulatory certainty, consistent implementation, and a policy direction that can be understood and predicted by the public and business communities. Capability concerns the quality of human resources and a business's ability to increase productivity, adopt technology, and move up to higher-value chains. Meanwhile, capital refers to allocating capital to its most optimal uses, particularly to sectors capable of generating growth, jobs, and long-term added value.

IBC believes these three elements must move in tandem to sustain long-term economic growth. Certainty helps economic actors make decisions with greater confidence. Capability makes it easier to convert economic opportunities into productivity. Meanwhile, appropriately allocated capital will determine how far growth can deliver tangible impact for society.

“Today's national awakening is not only about optimism, but also about the ability to consistently strengthen the economic foundation. Through collective effort and long-term commitment, Indonesia can build a more resilient, productive economy that is ready to face the future,” closed Sofyan.