Indonesia’s elusive quest for economic expansion

Over the past decade, Indonesia’s average growth has been just 5.07% (excluding during the 2020-2022 pandemic). — The Jakarta Post

IN a recent interview, Indonesia president-elect Prabowo Subianto told Bloomberg of his goal of achieving an 8% growth rate within the next three to five years.

While ambitious, escaping the middle-income trap requires a growth rate of at least 6% within a very narrow window until 2045. However, aiming for growth above 5% comes with its own set of challenges.