ASIATODAY.ID, JAKARTA – Minister of Finance of the Republic of Indonesia, Sri Mulyani Indrawati emphasized Indonesia’s strategic efforts to escaping of the middle income trap, namely by increasing productivity.
According to him, this is a continuous effort that has started since the New Order era under the leadership of President Soeharto until the reform era.
“The key word is always productivity. “How investment and domestic production factors can create more productive and higher quality output,” said Sri Mulyani at the ASEAN Global Development and the Middle Income Trap and Growth Academy International Seminar, in Jakarta, Monday, September 23 2024.
Sri Mulyani emphasized that with the demographic bonus in the form of a large and relatively young population, Indonesia has the potential to maximize productivity through improving the quality of education and good health as the main pillars for increasing the added value of all factors of production, including by providing scholarships through the Indonesia Endowment Fund for Education Agency and increasing provision of health services and equipment.
Apart from improving the quality of human resources, another thing the government is focusing on is developing quality infrastructure.
“Indonesia has invested. “During President Jokowi’s term of office, one of the very important national priorities is to build infrastructure, such as energy, railways, highways, airports, ports, seaports, telecommunications, and very importantly digital technology,” he said.
However, success in improving the quality of human resources and infrastructure cannot be separated from the support of appropriate regulations and policies, as well as good synergy between central and regional governments. Decentralization and regional autonomy must be optimized to ensure that public services are provided with the best quality. Evaluation of institutional arrangements also needs to be carried out to improve the efficiency of resource allocation.
“So, this is all an Indonesian story. However, what is good now is not enough. In our journey to become a high-income country, we need to continue to learn how to improve the elements of development, so that we will be able to improve even more the performance of growth, quality, job creation, both in terms of quality, inclusiveness and our ability to protect the earth with the development process “which is greener and lower carbon,” he said. (AT Network)
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