Minister and Head of National Development Planning Agency Bambang Brodjonegoro - Photo by Bappenas

JAKARTA (TheInsiderStories) – Minister and Head of National Development Planning Agency Bambang Brodjonegoro predicted Indonesia’s economic growth during 2020-2024 averages 5.7 percent, said one senior official. In that time frame, he said, the lowest economic growth at 5.4 percent and the highest at 6 percent.

“Meanwhile, the assumption of inflation is maintained around 3 to 3.5 percent,” the minister stated at the General Commission Election office, Jakarta on Tuesday (25/09).

The presentation from the agency which was proposed to be a reference in the 2019 Presidential Election event. In accordance with the Act of President and Vice President election, the vision and mission of all candidates must refer to the National Long Term Development Plan.

In detailed, he explained the level of economic growth targets could be achieved if the household consumption grow in the ranges 5.21 percent to 5.37 percent. Then, investment rise at 7.45 percent to 8.25 percent, exports 6.75 percent to 7.6 percent, imports 7.56 percent to 8 percent, and government spending is 3.28 percent to 4.1 percent.

Furthermore, he said, one of the main targets in that is Indonesia’s income per capita equal to the upper middle income countries in 2025. Then, the unemployment rate and the number of poor people is not more than 5 percent.

Currently the level of poverty in Indonesia based on Statistic Indonesia data is 9.82 percent as March of 2018. Meanwhile, the unemployment rate reached 5.13 percent and the current ratio was 0.389.

In the 2019 Government Work Plan, the target poverty rate is set around 8.5 percent to 9.5 percent, the unemployment rate is 4.8 percent to 5.2 percent, and the Gini ratio is 0.38-0.39.

Meanwhile, the projected indicative development target of 2020-2024 for poverty rates ranges from 5 percent to 5.7 percent, unemployment from 4 percent to 4.6 percent, and the Gini ratio is 0.371 to 0.373. Brodjonegoro assured, the projection was realistic to achieve at the end of the next period of government.

“The important thing is that the policy must be correct. How to fight poverty, how to protect vulnerable vulnerable groups. So there must be a policy attempt to achieve the target,” he said.

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