Dr. Wahidin Raya Street No.1 Jakarta 10710
134 ID | EN

These are 6 Priorities for Indonesia to be The Top 5 Countries with Largest Economy in the World in 2045

Jakarta, 12/09/2019 MoF - Minister of Finance Sri Mulyani Indrawati emphasized that to become a high-income country and even become the top 5 largest economy in 2045, the government must focus on optimizing and improving the quality of 6 fundamental things namely infrastructure, human resources (HR), technology, bureaucracy, regional spatial planning and financial sector deepening (inclusivism).
 
"Fundamental issues for us are 6 things (namely) infrastructure, human resources (HR), ability to adopt and adapt technology including creating innovation, government bureaucracy, regional spatial planning and economic and financial resources," she explained.
 
This was conveyed by the Minister of Finance when she was one of the main speakers at the Katadata Forum Towards the Top 5 of the World: The Steps of the 2014-2019 Cabinet Economic Team with the topic "What Challenges Must Be Faced in the Financial Sector to Become the World's Big Five" at Djakarta Theater, Jakarta, Thursday (12/09).
 
"We all know those visions (Indonesia becomes the top 5 countries with the largest economy in the world in 2045) is unlikely to happen by itself. We must be able to use the opportunities and resources available to address fundamental issues that are important not only today but also in the future," explained the minister.
 
However, the optimization of these 6 things does not guarantee that Indonesia will be free from the threat of the economic crisis. The minister gave an example that South Korea, like Indonesia, had experienced an economic crisis in 1997-1998, but the country quickly returned to the right track so that its economic recovery was much faster than the average of other countries experiencing economic crisis at that time.
 
"We all remember that Korea (South) together with us experienced an economic crisis in 97-98. On the way to its vision there is no guarantee that everything is gonna be smooth, fine and safe. There is always a dynamic that we must be aware of," said the Minister.
 
However, the Minister emphasized that the focus on these fundamentals will make Indonesia have the ability of endurance and resilience in facing various shocks both from internal and external the country towards achieving the 2045 vision.
 
Therefore, the minister emphasized the need for appropriate strategies and policies to improve 6 fundamental things on an ongoing basis. If the government cooperates with stakeholders related to success in raising 6 fundamental things above the average of other countries, Indonesia's dream to become a high-income country and become one of the 5 largest economies in 2045 is not impossible to achieve. (btr/hpy/nr)