Jakarta (ANTARA) - Finance Minister Sri Mulyani Indrawati highlighted that structural reform to develop greater competitiveness in the national economy is a must to realize the vision for Indonesia to be an advanced country in 2045.

"The dream of an advanced Indonesia on its centenary is not fulfilled in an instant, as we must first strive to achieve fiscal and structural reform," Indrawati stated at the Tax Regulation Harmonisation Bill dissemination event in Jakarta on Tuesday.

The minister noted that the current national population of 257 million will increase to 309 million by 2045, with 52 percent of the population in the productive age, 75 percent constituting the urban population, and 80 percent of the population earning middle-range income.

The vast population projected in the decade means an opportunity to achieve the status of a middle-income country, with US$29,300 income per capita, and turning the country into the fourth-largest economy, with a productive and advanced economic sector by the decade, Indrawati remarked.

She noted that advancing human resources by improving education, healthcare, and social security system as well as enhancing the national infrastructure are essential to realizing Indonesia's golden era by the country's centenary.

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Moreover, Indonesia must adapt to new technology, promote development in regions, and ensure sustainable utilization of natural resources under the transformational economic approach in the process to advance the national economy, the minister affirmed.

The minister made assurance that the government will encourage fiscal reform by enacting tax reform and improving spending and funding quality.

Indrawati reiterated that the Law on Job Creation will also encourage development in the national business sector, help to boost an investment-friendly economy, and promote innovation among residents, especially entrepreneurs.

"We are exerting our efforts to encourage economic transformation to ensure that the value of our products in the downstream production, the digital economy, and creative industry sectors will increase," she remarked.

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Translator: Astrid FH, Nabil Ihsan
Editor: Rahmad Nasution
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