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Indonesia's extreme poverty rate falls by 1.5%, World Bank says

Indonesia's extreme poverty rate falls by 1.5%, World Bank says
Indonesia's extreme poverty rate falls by 1.5%, World Bank says


Jakarta, CNBC Indonesia – President Joko Widodo (Jokowi) said Indonesia has successfully reduced extreme poverty, referring to World Bank data. Jokowi quoted the World Bank Indonesia Country Director, it can be said that Indonesia has achieved the eradication of extreme poverty when the figure reaches 1.5% in 2022.

World Bank and BPS data also show that Indonesia's extreme poverty rate continues to decline to 1.12 percent in 2023.

The World Bank's Indonesia Poverty Assessment (2023) shows that the trend of poverty levels in Indonesia, by various measures, has continued to decline over the past twenty years.

To measure extreme poverty, there is the National Poverty Line (NPL). In purchasing power parity, there are three categories.

Namely US$1.9, which is the international standard for the extreme poverty line of US$1.9 or IDR 30,400 (exchange rate of IDR 16,000/US$) per capita per day.

Next, the World Bank uses US$3.2 per day, or Rp.51,200, for NPLs, which are typically used by lower-middle-income countries. Apart from that, the NPL is 5.5 US dollars, or Rp 88,000 per capita per day, generally used for upper-middle income countries.

The international NPL standard has fallen from around 20% in 2002 to almost 0%. Then, non-performing loans of US$3.2 fell from 60% in 2002 to around 20%. In addition, non-performing loans of US$5.5 also decreased from around 90% in 2022 to around 60% in 2022.

“The government continues to be committed and work hard to eradicate poverty and improve the well-being of the people,” Jokowi said in a message on his official Instagram, Saturday (18/5/2024).

[Gambas:Video CNBC]

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