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The Indonesia Economy

Indonesia is not a developed country, but an emerging middle-income country which has made enormous gains in poverty and Indonesia has the largest economy in Southeast Asia, just as Nigeria has the largest economy in Africa even Nigeria had an annual average growth of 6.8% from 2005 to 2013, but couldn’t make enormous gains in poverty.

Indonesia continues to be a rising power both in the Association of Southeast Asian Nations (ASEAN) and the G20 because Indonesia has been ably maintained political stability and sustainable economic development is only possible if there is political development. Indonesia learned bitter lessons moving from authoritarian rule to a robust and vibrant democracy and building a dynamic economy after being crippled by the 1997-98 Asian financial crisis.

Indonesia’s reformasi after the Asian crisis of 1997-98 transformed the country and according to McKinsey, Indonesia is poised to become the 7th largest economy by 2030, ahead of the UK and Germany. Their bitter experience has made them drew lines for CORRUPTION and SENTIMENTS, though not 100%, at least to a very low level. If Nigeria can draw lines for corruption and sentiments, it would maintain political stability and that would transform Nigeria into a middle-income country.

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