Our exercise result shows that if we can grow by around 5.7 percent from 2022 to 2045, then we can become a high-income country by 2045Jakarta (ANTARA) - The national economy should grow by 5.7 percent annually, so that Indonesia can become a developed nation by 2045, Amalia Adininggar Widyasanti, the deputy for economic affairs at the Ministry of National Development Planning (PPN/Bappenas), stated.
"Our exercise result shows that if we can grow by around 5.7 percent from 2022 to 2045, then we can become a high-income country by 2045," she noted.
"Five-percent growth per year for Indonesia is not adequate for the country to become a developed nation before 2045," she emphasized during the Indonesia Development Forum on Friday.
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To this end, the government deemed that innovation and technology should be utilized for supporting development of Indonesia's processing industry.
In 2021 alone, the processing industry, which grew by 3.39 percent year-on-year, can be the biggest contributor to economic growth, reaching 0.70 percent out of the total economic growth of 3.69 percent throughout 2021.
This development process necessitates an ecosystem with adequate regulation, business opportunity to continue to grow and develop, as well as availability of resources, Widyasanti stressed.
In addition, healthy investment and business support as well as availability of industrial human resources or talents are equally important.
Before the COVID-19 pandemic, Bappenas estimated that Indonesia would be free from the middle-income trap by 2036, with economic growth of at least 5.7 percent per year since 2015.
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However, realization of Indonesia's target to become a high-income country by 2036 got delayed due to the COVID-19 pandemic that caused the economy to contract in 2020.
During the event, Industry Minister's Expert Staff in Business Climate and Investment Department Andi Rizaldi stated that the Industry Ministry has made varied efforts, comprising the development of Industry 4.0, creation of policies that encourage industrial growth, and provision of incentives, to boost Indonesia's economic growth.
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Translator: Sanya Dinda S, Fadhli Ruhman
Editor: Fardah Assegaf
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