Indonesia strives to escape middle-income trap
Indonesian Minister of National Development Planning (PPN) Rachmat Pambudi has said Indonesia needs to transform its economy to escape the middle-income trap and achieve the Golden Indonesia Vision by 2045.
Indonesia's economic growth rate has hovered around 5% for the past two decades, preventing the country from attaining a high-income status. Photo courtesy of Antara.
At a recent meeting with representatives of the Asian Productivity Organisation (APO) in Jakarta, Pambudi noted that Indonesia's economic growth rate has hovered around 5% for the past two decades, preventing the country from attaining a high-income status.
According to the minister, PPN and APO signed a letter of intent last year to initiate the formulation of the National Productivity Master Plan (RIPN). The master plan is expected to provide Indonesia with a roadmap to boost productivity, establish a more innovative and competitive ecosystem, and achieve an inclusive and sustainable economy.
He affirmed the ministry’s commitment to supporting the entire drafting process of the RIPN and developing derivative provisions to be implemented across ministries and agencies to ensure the plan's effective execution.
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