Indonesian Economy Infographic 2016: A New Way Forward
11 Oct 2016
The growing recognition that economic liberalisation offers the best path forward for the country has been reflected in a number of recent reforms, including a spate of significant stimulus packages that were announced late in 2015 and continued into 2016.
- Economy: Maintaining momentum through reform – Indonesia is South-east Asia’s largest economy, with 252m-strong population – the fourth largest in the world – that has long acted as a strong domestic growth driver. The country has recorded remarkable economic expansion since the 1997-98 Asian financial crisis: GDP growth has stayed above 4% since 2001.
- ICT: Growing Connections – In terms of ICT connectivity, Indonesia is currently in the midst of a national transformation. Over the past decade the country has seen dramatic improvements in telecommunications availability; technology awareness and usage; investment in digital infrastructure by both government and private sector players; regulatory oversight; and development planning.
- Banking: Solid prospects – With rising levels of public participation, a robust regulatory framework in place and high profitability in most institutions, in 2015-16 Indonesia’s banking sector performed strongly, building on nearly a decade of expansion and rapidly increasing returns.
- Infrastructure: Ramping Up – The transport sector is expected to be the largest beneficiary of spending levels, accounting for around 37% of total infrastructure spend through to 2025. The funds in the 2015 budget represent only the beginning of planned central government infrastructure spending over the five-year period from 2015 to 2019