JakartaGlobe-Dec 9
President Prabowo Subianto would need Rp 13,528 trillion or approximately $900 billion from foreign and domestic investors if he wants to make his 8 percent growth dream come true, government estimates show. Prabowo aims to push the country’s gross domestic product (GDP) growth to 8 percent before his term ends in 2029. This goal is ambitious, considering Indonesia’s recent annual growth rate of 5 percent. Foreign direct investments (FDI) will be pivotal to Prabowo’s dream. The government has even calculated how much investment Indonesia would need and their estimates show that the country will have to keep raising its annual targets over the coming years. “Investments play a very significant role in how we will achieve that 8-percent growth,” Investment Minister Rosan Roeslani told the Indonesia-European Investment Summit in Jakarta on Monday. Indonesia targets Rp 1,650 trillion in combined investments throughout 2024. The country will raise the target to Rp 1,906 trillion the following year, thus pushing annual GDP growth to 6.8 percent, government estimates reveal. As the investment target goes up to Rp 2,280 trillion in 2026, so does the annual economic growth which is expected to reach 7.6 percent by then. The government predicts that the economy will finally grow by 8.3 percent in 2027 as long as Indonesia amasses Rp 2,680 trillion from foreign and domestic investors that year.Prabowo’s 8 percent growth target has caught the country’s international investors’ attention, including the European Union (EU). The European bloc is even optimistic that Indonesia will reach that number. Read more at: https://jakartaglobe.id/business/prabowo-needs-900-billion-investment-for-his-8-pct-growth-dream
