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Indonesia needs new boosters to achieve 8% economic growth

Indonesia needs new boosters to achieve 8% economic growth

 


Jakarta. Indonesia needs to find new drivers of economic growth to achieve the 8 percent growth rate target over the next five years, Chief Minister of Economy Airlangga Hartarto said on Wednesday.

Airlangga noted that President Prabowo Subianto's ambitious goal is achievable if the country diversifies its economic base and creates new opportunities.

“It is not impossible to achieve this goal, since we recorded an average growth of 7.3 percent between 1986 and 1997, even reaching 8.2 percent in 1995,” Airlangga said at the economic festival in Sharia Law in Indonesia at the Jakarta Convention Center.

He added that the current administration can learn lessons from the past period of steady economic growth and adapt them to current conditions.

Adopting new technologies and innovations is key to accelerating growth and moving Indonesia toward high-income country status, Airlangga added.

Deputy Finance Minister Thomas Djiwandono cited energy security, digitalization and industrialization of mining raw materials as key pillars to achieve sustainable and resilient growth.

“These three themes will form the basis for long-term economic expansion as we seek new engines of growth,” Thomas said at the same event.

Tourism also offers significant potential for economic expansion, as many Indonesian tourist destinations remain underdeveloped.

Thomas added that the Prabowo administration is committed to continuing the legacy of the previous government under Joko Widodo, which prioritized nationwide infrastructure development and expansion of economic activities to make the Indonesia more attractive to global investors.

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