Bappenas Lauds Jokowi for Indonesia's Stable Economy at About 5 Percent
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7 May 2024 09:18 WIB
TEMPO.CO, Jakarta - Suharso Monoarfa, Minister of National Development Planning and Head of the National Development Planning Agency (Bappenas), lauded President Joko Widodo or Jokowi's government as the country’s economic growth was stable during his tenure.
“The economic growth is stable and maintained at around 5 percent,” he said at the 2024 National Development Planning Conference at the Jakarta Convention Center in Central Jakarta on Monday, May 6.
He outlined that the poverty rate has successfully been slashed from double digits to single digits, or from 11.25 percent in March 2014 to 9.36 in March 2023. Job creation has almost tripled, from 1.87 million in 2014 to 4.55 million in 2023.
The equal development also showed a positive trend, with the Gini index decreasing from 0.406 in March 2014 to 0.388 in March 2023. The Gini index illustrates the overall equality and inequality, from income to distribution.
Additionally, the quality of human resources has shown significant progress. The human development index increased from 68.9 in 2014 to 74.39 in 2023. The farmer exchange rate increased from 102 in 2014 to 112.46 in 2023.
“We should also be proud because Indonesia managed to reach the upper middle-income status in 2019. It fell slightly and then rose again. And in 2020, we reached US$4,095 per capita,” Suharso recalled.
Over the past 13 years, he went on, Indonesia's GDP has almost doubled, growing from US$0.75 trillion in 2010 to US$1.4 trillion in 2023.
“Various policy mixes that are accommodative in supporting economic growth and maintaining macroeconomic stability have supported GDP growth in the past 13 years,” he said.
Meanwhile, Indonesia's economic role in the global order is improving. In the past decade, Indonesia's economic contribution to the global economy has increased to 2.5 percent.
“This is also evident from the hike in Indonesia's position in the 2023 purchasing power parity, from 10th in 2014 to 7th. And this is good compared to other countries, such as Brazil, the UK, and France,” Suharso said.
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