President Joko Widodo is expected to announce Indonesia’s fiscal and economic targets for 2024 in his annual state of the nation address.

Jokowi, as the president is known, will likely say that Southeast Asia’s largest economy will aim to keep the fiscal deficit below 3% of gross domestic product and maintain GDP growth close to 5% as his second, five-year term draws to a close in about a year.

He may also provide an update on Indonesia’s plan for an ambitious, $20 billion transition into cleaner energy sources. Jokowi is scheduled to start his annual address before the parliament around 10 a.m. local time and will take the podium again at about 2 p.m. for his fiscal report.

The leader seeks to cement his legacy with the creation of a $34 billion new capital city and the push to become a manufacturing powerhouse that will help lift resource-rich Indonesia into the ranks of high-income nations by 2045. The country will hold a general election on Feb. 14.

Lawmaker Calls for Unity Ahead of Polls (9:44 a.m.)

Speaker of the People’s Consultative Assembly Bambang Soesatyo kicked off Wednesday’s series of speeches with a call for unity in the government’s vision ahead of the 2024 election, even as coalitions are starting to take form.

Election fever is heating up in the world’s third-largest democracy, with some 205 million people set to cast their votes for presidential, legislative, and gubernatorial candidates on Valentine’s Day next year.

--With assistance from Norman Harsono, Faris Mokhtar, Claire Jiao, Eko Listiyorini, Soraya Permatasari and Yudith Ho.