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Indonesia had just celebrated the milestone of moving into the group of upper-middle income countries from its previous lower-middle income status, as its gross national income (GNI) per capita reached $4,050 in 2019, slightly above the $4,046 threshold for the category. AFP
Indonesia’s GDP shrinks, first time since 1998
Tue, 16 February 2021
Indonesia s first annual economic contraction since the 1998 Asian financial crisis may have a long-term impact on the country, pushing back the government’s efforts to escape from the middle-income trap by 2045, a top government official has warned.
The country’s gross domestic product (GDP) shrank by 2.07 per cent year-on-year last year as the Covid-19 pandemic suppressed social and economic activities, Statistics Indonesia (BPS) reported earlier this month.
JAKARTA: Indonesia’s first annual economic contraction since the 1998 Asian financial crisis may have a long-term impact on the country, pushing back the government’s efforts to escape from the middle-income trap by 2045, a top government official has warned.
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Indonesian trade minister Muhammad Lutfi gestures during a press conference in Jakarta on January 11. INDONESIAN TRADE MINISTRY
Indonesia eyes 6% growth in non-oil, gas exports this year
Mon, 1 February 2021
The Indonesian government is expecting to achieve 6.3 per cent annual growth in Indonesia’s non-oil and gas exports this year as trading partners have started rolling out coronavirus vaccines to re-emerge from the pandemic-induced economic downturn.
Trade minister Muhamad Lutfi on January 29 said the growth target was based on the assumption that Indonesia’s economy would recover this year, in line with the forecast outlined by various international organisations.
“Of course, there will be many factors that come into play,” Lutfi said in a virtual presser. “First, the success of vaccination not only in Indonesia but also in its major trading partners. Second, the long-awaited reform through the Jobs Creation Law.”
JAKARTA, Jan 31 (JAKARTA POST/ANN): The government is expecting to achieve 6.3 percent annual growth in Indonesia’s non-oil and gas exports this year as trading partners have started rolling out coronavirus vaccines to re-emerge from the pandemic-induced economic downturn.