One Percent of the Rich Controls Half of National Wealth: Report

Translator

Ricky Mohammad Nugraha

Editor

Petir Garda Bhwana

Kamis, 10 Oktober 2019 08:03 WIB

TEMPO.CO, Jakarta - The National Team for the Acceleration of Poverty Alleviation (TNP2K) recently reported that one percent of the country's wealthiest are in control of nearly half of national assets based on their survey.

In their report presented at the Vice Presidential Palace on Wednesday, the TNP2K maintained that this significant gap remains as the government’s homework despite managing to reduce poverty since 2015.

The team’s executive secretary, Bambang Widianto, said that poverty continues to decline from 11.2 percent in March of 2015, to 9.41 percent in March 2019.

“For the first time, poverty dropped to a single-digit considering that reducing poverty gets more difficult the smaller the digits are,” said Bambang.

However, Bambang explained that there is a concentration of national assets centering on a small portion of Indonesia’s wealthiest people. This follows the fact that Indonesia is ranked fourth with the world’s wealth inequality just behind Russia, India, and Thailand.

“One percent of Indonesians are in control of 50 percent national assets. If you increase that to 10 percent of families, that will be in control of 70 percent. This means that 90 percent of the population is fighting for the remaining 30 percent,” said Bambang.

Bambang believes the government could overcome the issue by fixing a number of issues such as schools, sanitation, healthcare, electricity, and lastly the availability of jobs through infrastructure development.

EGI ADYATAMA

Related News

Indonesia Discusses Sport Infrastructure Investment with UAE

2 hari lalu

Indonesia Discusses Sport Infrastructure Investment with UAE

Indonesia's Youth and Sports Minister discussed opportunities for investment in the development of sports infrastructures with the UAE.

Read More

Top 10 Poorest Countries in the World by GDP per Capita in 2024

3 hari lalu

Top 10 Poorest Countries in the World by GDP per Capita in 2024

Here is the list of the world's poorest countries in 2024 based on GDP per capita, all in Africa.

Read More

Pertamina Joins Forces with Bakrie Group to Develop Research Infrastructure at IKN

33 hari lalu

Pertamina Joins Forces with Bakrie Group to Develop Research Infrastructure at IKN

Pertamina and Bakrie Group have agreed to develop shared hub infrastructure in Indonesia's future capital city (IKN), Nusantara.

Read More

Jokowi's Wealth Surge by Rp66 Billon in 2 Presidential Terms

34 hari lalu

Jokowi's Wealth Surge by Rp66 Billon in 2 Presidential Terms

Indonesian President Joko "Jokowi" Widodo disclosed that his assets surged by Rp13.4 billion between 2022 and 2023.

Read More

Indonesia, Cambodia Eye Potential Infrastructure Cooperation

35 hari lalu

Indonesia, Cambodia Eye Potential Infrastructure Cooperation

This year marks the 65th anniversary of diplomatic relations between Indonesia and Cambodia.

Read More

Infrastructure Development at IKN Costs Rp68tn; PUPR Ministry Admits Concerns over BPK Audit

39 hari lalu

Infrastructure Development at IKN Costs Rp68tn; PUPR Ministry Admits Concerns over BPK Audit

PUPR Ministry is worried about the audit by the Supreme Audit Agency (BPK) over the construction work at the Nusantara Capital City or IKN.

Read More

UNFPA Indonesia Highlights Gender Equality as Priority Concern for Government

39 hari lalu

UNFPA Indonesia Highlights Gender Equality as Priority Concern for Government

UNFPA Indonesia hopes that gender equality in Indonesia will become a priority concern of the government.

Read More

Erick Thohir to Merge 7 SOEs into 3 Holding Companies

42 hari lalu

Erick Thohir to Merge 7 SOEs into 3 Holding Companies

Indonesian SOE Minister Erick Thohir affirms that the ministry will merge seven SOEs into three holding companies.

Read More

Imbalanced Hike in Food Prices and Wages May Raise Poverty Rate: Economist

56 hari lalu

Imbalanced Hike in Food Prices and Wages May Raise Poverty Rate: Economist

An economist from Indef Aviliani assesses that the government must create policies that could efficaciously control food prices.

Read More

Prabowo Steadfast to Hit 8% Economic Growth in Next 5 Years

56 hari lalu

Prabowo Steadfast to Hit 8% Economic Growth in Next 5 Years

Presidential candidate number 2 Prabowo Subianto is determined to augment Indonesia's economic growth by eight percent in the next five years.

Read More