Jakarta (ANTARA) - The Coordinating Minister of Economic Affairs, Airlangga Hartarto, stated that Indonesia's economic growth needs to be in the range of 6–8 percent in the next three years to become a developed country in 2045.

He made the remark in response to the statement of President-elect Prabowo Subianto, who expressed optimism that Indonesia's economic growth could reach eight percent in the next two to three years under his leadership.

"In the RPJMN (National Medium-Term Development Planning), if we want to be a developed country in 2045, we must grow by 6–8 percent," he said after delivering a press statement at the Presidential Palace in Jakarta on Thursday.

According to Hartarto, the world's economic situation in the next two to three years will change, likewise with the geopolitical condition.

He added that the digital and semiconductor sectors are projected to support a country's economic growth.

Meanwhile, for Indonesia, critical minerals, as the key to increasing the renewable energy mix, are a sector that continues to be encouraged to boost economic growth.

According to Statistics Indonesia, Indonesia's economy cumulatively grew by 5.05 percent in 2023, with processing, trade, agriculture, mining, and construction industries as business fields with the biggest contribution.

Meanwhile, Indonesia’s economic growth in the first quarter (Q1) of 2024 stood at 5.11 percent year-on-year, the country's highest Q1 growth since 2015, with the processing, trade, agriculture, construction, and mining and quarrying industries as the main contributors.

The Indonesian government is targeting the country's economic growth to be clocked at 5.2 percent in 2024.

Related news: APEC GDP expanded to 3.5 percent in 2023, uncertainties loom large
Related news: Indonesia economic outlook strong amid global headwinds

Translator: Mentari Dwi, Raka Adji
Editor: Anton Santoso
Copyright © ANTARA 2024