Indonesia's Competitiveness Rating Rises To 27 World Positions, Coordinating Minister Airlangga: Job Creation Law On The Track

Coordinating Minister Airlangga Hartarto (second from the left). (Theresia Agatha/VOI)

Coordinating Minister for Economic Affairs Airlangga Hartarto said Indonesia's competitiveness ranking rose to 27th in the world from 34 in the 2024 World Competitiveness Ranking Index.

Airlangga said this was driven by a number of things that the government had done. One of them is the implementation of the Job Creation Law which is considered capable of boosting competitiveness.

"Our competitiveness from 34 to (position) 27. This is driven by efficiency from a government business perspective. Then structural reforms are carried out through the Job Creation Law on the track," Airlangga said at a press conference on the Draft State Revenue and Expenditure Budget and the 2025 FY Financial Note at the office of the Directorate General of Taxes at the Ministry of Finance, Jakarta, Friday, August 16.

"The latest assessment from SNP complements all sovereign credit rates in Indonesia which are one level above the investment grade," he continued.

In addition, said Airlangga, there have also been several other achievements in Indonesia to date. This is as stated by President Joko Widodo (Jokowi) during a speech conveying Government Information on the Bill on the State Budget for Fiscal Year 2025 along with his Financial Note in the Indonesian House of Representatives.

Some of these achievements include, among others, the extreme poverty rate which decreased to 0.83 percent as of March 2024. Airlangga said that the figure was close to the target of 0 percent so far this year.

"Then, the unemployment rate also fell to 4.82 percent in February 2024 and also the number of people working increased by 3.5 million people from February 2023 to February 2024," he explained.

Furthermore, Airlangga said that the consumer index was also still above 100, namely 123.4. "Real sales index is also positive," he said.