Indonesia needs 6% GDP growth annually to be fifth-biggest economy (Photo:globalgovernmentforum.com)Indonesia needs to raise its economic growth to an average of 6% annually to maintain the right pace to become the world’s fifth-biggest economy by 2045.
Former finance minister Bambang Brodjonegoro on March 9 said to realise the dream, Indonesia need to have a GDP of 7.3 trillion USD and per capita income of more than 25,000 USD in accordance with the World Bank’s standards.
He said Indonesia needs to do more as the country’s economy has been stuck at 5% growth for the last five to 10 years.
According to him, the government should pursue the transformation of manufacturing into a high value-added sector, in which a ban on the export of raw materials is a right solution.
In addition, the country also needs to improve skills of the workforce and focus on in-depth research, while attracting more investment to add value and transfer technology to Indonesia./.