Prabowo Subianto emerges victorious in Indonesia’s Presidential race

Prabowo Subianto is set to secure the Indonesian presidency, with unofficial counts indicating a decisive victory in the first round. The 72-year-old, a former special forces commander and defense minister, declared a “victory for all Indonesians” as quick ballot counts showed him with nearly 60% of the votes.

Indonesian markets responded positively to the clear-cut count, rallying on Prabowo’s commitment to continuing President Joko Widodo’s policies. The stock market rose by 2.2%, and the rupiah strengthened by 0.3%. Prabowo’s hardline military background seemingly gave him an insurmountable lead over rivals Anies Baswedan and Ganjar Pranowo.

Despite allegations of “systematic and massive fraud” from Anies’ and Ganjar’s teams, analysts have noted no signs of electoral fraud. The national election agency is expected to announce official results by March 20, potentially ushering in the new president in October.

Economist Brian Tan from Barclays suggested that Prabowo’s apparent one-round victory could alleviate uncertainty about the next administration, citing his alignment with President Joko Widodo’s policies.

While Jokowi did not explicitly endorse any candidate, Prabowo’s running mate is the president’s eldest son, Gibran Rakabuming Raka, set to become the youngest vice-president in Indonesian history. The pair has pledged to continue efforts to position Indonesia as an electric-vehicle hub, extend infrastructure projects, and provide social assistance.

Despite Prabowo’s supporters celebrating, reactions in Indonesia range from caution to dismay, with #RIP DEMOKRASI trending on social media. The Jakarta Post’s opinion piece, “Finally a Win,” suggests Prabowo must now prove himself as a consensus builder and compassionate leader amidst public outcry over alleged improper conduct in the election.