Not 2045, Indonesia Will Become A Developed Country In 2047 By The BI Version, This Is The Condition..

JAKARTA - Governor of Bank Indonesia (BI) Perry Warjiyo revealed that Indonesia's opportunity to become a developed country remains wide open despite being under strong pressure in recent years due to the COVID-19 pandemic.

According to him, this goal can be achieved as long as the government can accelerate development with support and contributions from various parties.

Perry added, there are at least three important indicators that must be achieved and maintained.

First, economic growth will have to increase to around 4.9 percent to 5.7 percent by 2025. Furthermore, it will continue to rise 5.1 percent to 2.9 percent in 2028," he said while attending the fit and proper test for the candidate for Governor of BI at the Senayan Parliament Complex, Jakarta, Monday, March 20.

Second, inflation should be able to fall lower to 2.5 percent plus minus 1 percent from normal conditions of 3 percent plus minus 1 percent.

"This must be supported by an increase in national production capacity in fulfilling the increase in aggregate demand," he said.

Third, the current account deficit must be able to remain under control at a low level. The reason, continued Perry, is that a low deficit can support the stability of the rupiah exchange rate.

"In addition, the increase in foreign exchange reserves can strengthen Indonesia's external resilience," he said.

"Overall, with this prospect trajectory, Indonesia is expected to be able to become a high-income developed country by 2047," said Perry.

Quoting the National Long-Term Development Plan (RPJPN), the development target for achieving developed countries is 2045.

For information, one of the main indicators of becoming a developed country is that population per capita income must be above 10,000 dollars per year.

Indonesia's per capita income is currently perched at around 4.000 dollars per year.