Indonesian President Announces 30-Year Retroactive Audit of State Enterprises
ManagementMacro
Indonesian President Prabowo Subianto has announced an escalation of his anti-corruption drive, targeting the bureaucracy, state-owned enterprises, the police, and the military, while signaling audits of state enterprise executives going back 30 years. In his second State of the Nation address to parliament on Friday, August 14, Prabowo also floated the idea of establishing a special court to conduct the audits and opened the door to amnesty for those who confess wrongdoing, while the law minister said there are no plans yet to set up such a court. Prabowo is aiming for Indonesia's economy to expand by 6 percent by the end of this year, amid pressure from a stock market that has fallen about 27 percent since the start of the year and a rupiah trading near record lows.
