![]() With its economy impacted by the pandemic, Indonesia went from upper-middle income to lower-middle income status as of July 2021. It aims to further strengthen Indonesia’s economy by improving the country’s human capital and competitiveness in the global market. The current medium-term development plan is the last phase of the 20-year plan. It is segmented into 5-year medium-term development plans called the RPJMN ( Rencana Pembangunan Jangka Menengah Nasional), each with different development priorities. Indonesia’s economic planning follows a 20-year development plan, spanning from 2005 to 2025. Indonesia assumed the G20 Presidency this year, encouraging all countries to work together to achieve a stronger and more sustainable recovery from the pandemic’s impacts. Furthermore, Indonesia has made enormous gains in poverty reduction, cutting the poverty rate by more than half since 1999, to under 10 percent in 2019 before the COVID-19 pandemic hit. ![]() Today, Indonesia is the world’s fourth most populous nation and 10th largest economy in terms of purchasing power parity. The largest economy in Southeast Asia, Indonesia – a diverse archipelago nation of more than 300 ethnic groups – has charted impressive economic growth since overcoming the Asian financial crisis of the late 1990s.
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