Jokowi's milestones
2014-2024
Key events and policies shaping his presidency
PHOTO: AFP
Oct 2014
The start
Inaugurated as Indonesia's 7th president, pledging 7% GDP growth (up from 5%), poverty reduction and increasing foreign investment
Jokowi became the first Indonesian president who did not come from the military or the country's political elite. PHOTO: BT FILE
"Jokowi effect"
His election as president had a notable positive impact on the Indonesian stock market and the rupiah
SOURCE: BLOOMBERG GRAPHIC: JOANNA LUM, BT
Indonesia’s stocks outpace Asean region in Jokowi era
2015
Fuel reform
Ended longstanding fuel subsidy, reallocating the budget to infrastructure and human resource development
Infra push
His first budget prioritised infrastructure to cut logistics costs by building toll roads, ports, airports and power plants
During Jokowi's 10-year leadership, Indonesia’s infrastructure budget allocation surged by 156.2%, exceeding 3,411 trillion rupiah. PHOTO: AFP
China high
Partnered China for a high-speed train connecting Jakarta and Bandung. Despite initial delays, the railway began operations in October 2023, enhancing transportation, creating jobs, boosting economic development and strengthening Indonesia-China ties
The Jakarta-Bandung high-speed train named Whoosh is seen on a platform in Bandung, West Java, May 4, 2024. PHOTO: AFP
FDI boost
First policy package introduced incentives, regulatory cuts, simplified licensing, and special economic zones with tax incentives to woo foreign investment and stimulate the economy
*Q2 2024
SOURCE: MINISTRY OF INVESTMENT GRAPHIC: JOANNA LUM, BT
Blusukan visits
Continued unannounced spot checks to engage directly with citizens and address local issues
Jokowi's ‘blusukan’ represents a break from the traditional, more formal approach of previous leaders. PHOTO: BT FILE
2016
Tax amnesty win
Indonesia's tax amnesty repatriated 4,642 trillion rupiah (S$382b) in assets, surpassing its target of 4,000 trillion rupiah, and generated 135 trillion rupiah in redemption fees, boosting the state budget
Maritime policy
Launched the Global Maritime Fulcrum to strengthen Indonesia's maritime infrastructure and sovereignty
2017
Economic nationalism
To tighten its grip on natural resources, the government compelled PT Freeport Indonesia, a subsidiary of US gold mining giant Freeport-McMoRan, to divest 51% of its stakes to Indonesian entities
Freeport's Grasberg mine in Papua is the world’s largest gold mine and also holds one of the largest copper reserves. PHOTO: AFP
2018
"Making Indonesia 4.0"
Under this initiative, he aimed to revitalise manufacturing through digital transformation and boost competitiveness in key industries such as automotive, textiles and electronics
Palm oil diplomacy
Vigorously defended the palm oil industry against international criticism and trade barriers, underscoring its economic significance
