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Knitting Economic Growth

The Indonesian economy faces challenges that are not easy and are increasingly complex In the future the growth trend of the national economy tends to decline and even stagnateAfter the 2008 global economic crisis the Indonesian economy could still grow above 55 percent with an average growt

Oleh Anton Hendranata
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The construction of the Kelapa Gading-Pulo Gebang toll road project in the Tipar Cakung area, East Jakarta, Wednesday (06/02/2019). The 9.3-kilometer toll road in the Kelapa Gading-Pulo Gebang section is targeted to operate in mid 2019. The toll road is equipped with a special Transjakarta lane and is expected to reduce the traffic density on the north-east lane of Jakarta.

The Indonesian economy faces challenges that are not easy and are increasingly complex. In the future, the growth trend of the national economy tends to decline and even stagnate. After the 2008 global economic crisis, the Indonesian economy could still grow above 5.5 percent, with an average growth of 6.1 percent in the 2010-2013 period. However, over the past five years (2014-2018), Indonesia's economic growth was around 5 percent due to pressure from a weak global economy.

Therefore, the nation's biggest task is to get out of the 5 percent economic growth trap. What do we have to do to not get caught in middle-income trap, despite our big demographic bonuses? How can we reduce the Incremental Capital Output Ratio (ICOR) so that it is more efficient and increase labor productivity?

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