Rehan Oktra Halim, Jakarta – President of the Republic of Indonesia Prabowo Subianto has responded to the movement of the Composite Stock Price Index or IHSG that occurred a few days ago. Prabowo conveyed that the condition of food and security remains intact despite the downturn of stock prices.
During the cabinet meeting at the Merdeka Palace, Central Jakarta, on Friday, March 21, 2025, Prabowo revealed that the condition of food prices remains stable and controlled approaching Eid al-Fitr 2025.
According to him, this situation puts the country in a secure condition.
He also emphasized that food stability is more paramount than the fluctuation of stock prices. "Food is paramount. Stock prices can go up and down, but if the food is secure, the nation is secure," he said.
Prabowo also explained that food production shows promising conditions in welcoming Eid al-Fitr. He even admitted to directly monitoring the developments of staple food prices in the market. "Bird's eye chili may have temporarily risen, but it has started to decline," he said.
In addition, Prabowo expressed his appreciation to the ministers responsible for maintaining food stability, emphasizing that food security must remain a priority despite fluctuations in stock prices.
While leading a cabinet meeting, Prabowo lightened the mood by joking about some ministers appearing stressed over the decline of the Jakarta Composite Index (IHSG).
Among those mentioned were Maritime Affairs and Fisheries Minister Sakti Wahyu Trenggono and Public Works and Public Housing Minister Maruarar Sirait. In a playful manner, the president even looked for a seat for the two ministers.
"I see that only a few of you are stressed about the falling stock prices. Maruarar, who else? Trenggono, where's Trenggono? Oh, (they) sit together," Prabowo said, as quoted by Antara.
He also pointed out a minister who appeared unaffected by the IHSG downturn – Budiman Sudjatmiko, head of the National Team for the Acceleration of Poverty Alleviation. With a touch of humor, Prabowo quipped that Budiman remained unbothered because he did not own any shares.
"As for Budiman, he's fine because he doesn't have any shares," he remarked.
Prabowo also mentioned Agriculture Minister Andi Amran Sulaiman and Investment Minister Rosan Roeslani. When Amran's name came up, the president quickly dismissed any concerns, saying that Amran does not engage in stock trading.
Meanwhile, when Rosan's name was brought up, Prabowo appeared to brush it off, implying that Rosan was not particularly affected by the situation.
According to Antara, the IHSG at the Indonesia Stock Exchange (IDX) on Monday, March 24, 2025, was projected to move sideways as market participants adopted a wait-and-see approach to global economic data. The index opened lower by 22.03 points, or 0.35 percent, at 6,236.15 in early trading.
Meanwhile, the LQ45 index also declined by 5.79 points, or 0.84 percent, to 686.23.
A report from the Lotus Research team at Andalan Sekuritas indicated that the IHSG is expected to remain in a sideways trend as investors continue monitoring economic developments from major global markets.
– Hendrik Yaputra contributed to the writing of this article.