from Asian Development Bank (ADB) Economic Analysis:

"To become a high-income economy by 2045, Indonesia needs its economy to grow faster than 5% annually.  A joint study by ADB and the Ministry of Finance indicates that adoption of new technologies could add 0.55 percentage points to annual average GDP growth over the next 2 decades, pushing Indonesia’s economy into the high-income group. Digital transformation particularly has the potential to increase productivity.

"Indonesia has taken significant steps to support its science, technology, and innovation system."

"Indonesia is the world’s fourth most populous nation, with a population of more than 270 million as of 2021. It is the largest economy in Southeast Asia and the 10th largest economy in the world in terms of purchasing power parity. Annual gross domestic product (GDP) growth exceeded 5.0%, on average, between 2010 and 2019, before contracting by 2.1% in 2020 because of the coronavirus disease (COVID-19) pandemic. It rebounded in 2021, with modest GDP growth of 3.7%, and the Asian Development Bank (ADB) projects that annual GDP growth will return to pre-pandemic levels (more than 5%) in 2022 and 2023. Steady economic growth has helped Indonesia cut the poverty rate by more than 50% since 1999; it dropped below 10.0% for the first time in 2019 (footnote 1). The unemployment rate dropped from 6.08% in 2000 to 3.62% in 2019. Indonesia has also seen sustained job growth in nonfarm sectors, with the share of non-farm jobs in the economy increasing from 60.0% in 2009 to 72.0% in 2019."

For Full Article: https://www.adb.org/sites/default/files/linked-documents/55063-001-ea.pdf