Prabowo Subianto Faces Discontent Amid Stock Market Turmoil and Economic Concerns
Source reports published 22 Oct 2026, 6:00 pm – 24 Oct 2026, 5:09 am AEST
President Prabowo Subianto’s administration is grappling with declining public approval among young Indonesians, fueled by concerns over the free school meals program, economic performance, and a proposed MSCI market downgrade. The government is attempting to regain confidence through nationalist appeals but faces challenges stemming from unmet promises and ongoing economic issues.
What happened
- President Prabowo Subianto’s administration is experiencing declining public approval among young Indonesians, particularly those who supported him in the 2024 election.
- This discontent stems from several factors, including criticism of the government’s response to the free school meals program, which has been linked to food poisoning incidents and concerns about teacher salaries.
- Furthermore, young voters express feelings of "complicity" regarding government policies.
- The government acknowledges the need for improvements and has implemented measures, including increased education budgets and cost-of-living support, but these efforts have not fully addressed the concerns.
- Simultaneously, the Indonesian stock market has experienced a significant downturn, leading to a proposed downgrade from emerging market status by MSCI.
- This downgrade, coupled with economic challenges such as the weakening rupiah and ongoing forest fires in Sumatra and Kalimantan, has further eroded confidence in the administration.
- Protests related to the forest fires have occurred in multiple cities, highlighting the government’s struggle to manage environmental crises.
- The government’s attempts to regain investor confidence through patriotic appeals have been met with skepticism, emphasizing the need for concrete policy changes and improved market governance.
Original reporting
- South China Morning Post: Can Prabowo’s economic nationalism save Indonesia from potential MSCI downgrade?
2026-10-22T08:00:14+00:00 - ABC: Young Indonesians say they feel 'complicit' in voting for Prabowo
2026-10-23T19:09:26+00:00