Indonesia to be world’s fourth largest economy by 2045 DTiNews

Indonesian President Joko Widodo has expressed his optimism that Indonesia will become the world’s fourth largest economy by 2045.

He said the prediction was based on calculations from the Office of the Coordinating Economic Minister, the Finance Ministry and the National Development Planning Board (Bappenas).

By 2045, Indonesia will reach its 100th year of independence and the country will have a population of 309 million people, with economic growth of 6 percent and gross domestic product of 9.1 trillion USD, the Jakarta Post quoted President Widodo as saying.

Furthermore, Indonesia’s income per capita is predicted to reach 29,000 USD in 2045.

According to Indonesia’s national news agency Antara, the country has phased out three 10-year stages of national development to realise its 2045 vision.

Infrastructure development, to serve as the foundation for other developmental stages, will be carried out in the initial 10 years. Several projects in the field are being carried out by the government, including power infrastructure, toll roads, airports and sea ports.

During 2025-2035, the country will focus on developing processing industry to increase added value. In this period, raw materials must no longer be sold before they are processed, at least into semi-finished products. It will put an end to the export of crude palm oil and derivative products must be produced whether in the form of cooking oil, cosmetics or others.

Indonesia will enjoy a demographic bonus in which the country will be supported by 52 percent of its productive-age population and it needs to take this opportunity for national development.

The last stage will encompass the development of the services industry, including tourism. The country is developing 10 promising tourist attractions which are expected to contribute to the nation’s economic growth.-

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