Indonesia is Still Far from Becoming High-Income Country

The government's progress in moving beyond the middle-income country trap is hindered by historical data offering limited support and the sluggish downstreaming effect.

Tegar Arief Fadly & Maria Elena

10 Feb 2024 - 19.30
A-
A+
Indonesia is Still Far from Becoming High-Income Country

Residents carry out their activities against the backdrop of an office building in Jakarta, Wednesday (2/8/2023). Minister of Finance Sri Mulyani Indrawati estimates that Indonesia's economic growth in the second quarter of 2023 will be maintained at the level of 5 percent, in line with positive developments. JIBI/Business/Himawan L Nugraha

Bisnis, JAKARTA - Indonesia's efforts to break free from the middle-income trap are facing increasing challenges. The government's progress in moving beyond the middle-income country trap is hindered by historical data offering limited support and the sluggish downstreaming effect.

According to the latest report from the Central Statistics Agency (BPS), the realized gross domestic product (GDP) growth last year stood at 5.05% year-on-year (YoY), maintaining the economic growth trend at 5%.

Aligned with this trend, excluding the repercussions of the Covid-19 pandemic that impacted the economy in 2020-2021, Indonesia's national economy has struggled to reach the 5% growth trajectory. According to Bisnis analysis, the last instance of the economy achieving a growth rate of 6% was in 2011-2012, approximately a decade ago.

Meanwhile, for Indonesia to transition into a developed nation, it's essential to achieve economic growth rates of around 7%.

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Asteria Desi Kartikasari
Jelajahi peluang bisnis terpercaya dengan berlangganan
Temukan keleluasaan dan keuntungan maksimal dengan pilihan paket berlangganan eksklusif ini
BERLANGGANAN SEKARANG
Tidak Memerlukan Komitmen, Batalkan Kapan Saja
Penawaran terbatas. Ini adalah penawaran untuk Langganan Akses Digital Dasar. Metode pembayaran Anda secara otomatis akan ditagih di muka setiap empat minggu. Anda akan dikenai tarif penawaran perkenalan setiap empat minggu untuk periode perkenalan selama satu tahun, dan setelah itu akan dikenakan tarif standar setiap empat minggu hingga Anda membatalkan. Semua langganan diperpanjang secara otomatis. Anda bisa membatalkannya kapan saja. Pembatalan mulai berlaku pada awal siklus penagihan Anda berikutnya. Langganan Akses Digital Dasar tidak termasuk edisi. Pembatasan dan pajak lain mungkin berlaku. Penawaran dan harga dapat berubah tanpa pemberitahuan.
BIG MEDIA
Jalan K.H. Mas Mansyur No. 12AKaret Tengsin - Jakarta Pusat 10220
© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.
BIG MEDIA
Jalan K.H. Mas Mansyur No. 12AKaret Tengsin - Jakarta Pusat 10220
© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.