This economic transformation will be directed to provide a stronger and more adaptive economic foundationJakarta (ANTARA) - The National Development Planning (PPN) Ministry /National Development Planning Agency (Bappenas) has outlined six key strategies to transform Indonesia's economy, PPN Ministry/Bappenas' Economic Deputy Amalia Adininggar stated.
"This economic transformation will be directed to provide a stronger and more adaptive economic foundation," she noted during the Indef Mid-Year Review online seminar on Wednesday.
These six strategies comprise bolstering the competitiveness of human resources, improving the productivity of every economic sector, implementing green economy, conducting digital transformation, integrating the domestic economy, and relocating the country's capital.
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In order to bolster the competitiveness of human resources, the government will strengthen health, education, social protection, as well as research and innovation system, she noted.
These six strategies serve as a reference point in developing a more inclusive and sustainable national economy that is expected to improve productivity to realize the Indonesia 2045 vision.
These strategies, described within the 2023 Government's Work Plan (RKP), are also expected to reduce the risk of stagflation for Indonesia as a result of various current global uncertainties.
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The risk of stagflation in developed countries is mostly triggered by the existence of the output gap, but in developing countries, the risk of stagflation is influenced by low productivity, Adininggar noted.
To this end, the key in avoiding or reducing the risk of stagflation on Indonesia’s economy is by bolstering productivity, she added.
Based on the research result from Oxford Economic, Indonesia will face a lower risk of stagflation as compared to other countries, such as Philippines, Malaysia, Brazil, India, China, South Africa, Poland, and Turkey.
Earlier, during a meeting on June 15, PPN Ministry/Bappenas Secretary Taufik Hanafik stated that PPN had also readied seven national priority agendas to be conducted in 2023.
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Translator: Sanya Dinda S, Fadhli Ruhman
Editor: Fardah Assegaf
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