Prabowo Subianto won over millions of Indonesian voters with the promise of free meals for schoolchildren. But his wide-ranging spending plans have yet to convince investors that he can afford to offer the country at large a free lunch.
The government provides subsidies for fuel, electricity and cooking oil. “None of the options on the table are low-hanging fruit,” said one of the people. Boosting tax collection would pose a particular challenge. Prabowo aims to increase the tax revenue-to-GDP ratio from 10 per cent to 16 per cent. “It will be an uphill task to beef up fiscal revenue.
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