Indonesia Targets to be world’s 4th largest economy by 2045

President Joko Widodo is optimistic that Indonesia will become the world’s fourth largest economy by 2045. He based the predication on calculations made by the Office of the Coordinating Economic Minister, the Finance Ministry and the National Development Planning Board (Bappenas). “Based on our calculations, Indonesia will be the fourth largest economy in the world. I believe these calculations because they were made by economic experts. Who doubts Sri Mulyani Indrawati and Darmin Nasution?” he said on Monday, referring to his finance minister and coordinating economic minister, respectively.

President Jokowi said his Cabinet’s calculations showed that by 2045, by which point Indonesia will have reached its 100th year of independence, Indonesia will have a population of 309 million people, economic growth of 6 percent and gross domestic product of US$9.1 trillion.

Furthermore, Indonesia’s income per capita is predicted to reach $29,000. (bbn). President Jokowi has instructed his Cabinet to reach 5.4 to 6.1 percent economic growth in 2018. He called on his Cabinet to be optimistic, but realistic, when composing the 2018 state budget draft. Furthermore, he called on his government to think and act outside the box in order to achieve their target. Indonesia’s gross domestic product (GDP) grew by 5.02 percent last year, lower than the targeted 5.2 percent. In the 2017 state budget, economic growth is targeted at 5.1 percent. (bbn)

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