Economy of Indonesia

The economy of Indonesia is one of the emerging market economies in the world and the largest in Southeast Asia. As an upper-middle income country and member of the G20, Indonesia is classified as a newly industrialized country. Estimated at over 21 trillion rupiah in 2023, it is the 16th largest economy in the world by nominal GDP and the 7th largest in terms of GDP (PPP). Estimated at US

40 billion in 2019, Indonesia's Internet economy is expected to cross the US

130 billion mark by 2025. Indonesia depends on the domestic market and government budget spending and its ownership of state-owned enterprises (the central government owns 141 enterprises). The administration of prices of a range of basic goods (including rice and electricity) also plays a significant role in Indonesia's market economy. However, since the 1990s, the majority of the economy has been controlled by individual Indonesians and foreign companies. In the aftermath of the 1997 Asian financial crisis, the government took custody of a significant portion of private sector assets through the acquisition of nonperforming bank loans and corporate assets through the debt restructuring process, and the companies in custody were sold for privatization several years later. Since 1999, the economy has recovered, and growth accelerated to over 4–6% in the early 2000s. In 2012, Indonesia was the second fastest-growing G-20 economy, behind China, and the annual growth rate fluctuated around 5% in the following years. Indonesia faced a recession in 2020 when the economic growth collapsed to −2.07% due to the COVID-19 pandemic, its worst economic performance since the 1997 crisis. In 2022, gross domestic product expanded by 5.31%,due to the removal of COVID-19 restrictions as well as record-high exports driven by stronger commodity prices. Indonesia is predicted to be the 4th largest economy in the world by 2045. Joko Widodo has stated that his cabinet's calculations showed that by 2045, Indonesia will have a population of 309 million people.

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Economy of Indonesia

40 billion in 2019, Indonesia's Internet economy is expected to cross the US

130 billion mark by 2025.

Papua (province)

Papua is a province of Indonesia, comprising the northern coast of Western New Guinea together with island groups in Cenderawasih Bay to the west. It roughly follows the borders of Papuan customary region of Tabi Saireri. It is bordered by the sovereign state of Papua New Guinea to the east, the Pacific Ocean to the north, Cenderawasih Bay to the west, and the provinces of Central Papua and Highland Papua to the south. The province also shares maritime boundaries with Palau in the Pacific.

Southeast Asia

Southeast Asia, also spelled South East Asia and South-East Asia, and also known as Southeastern Asia, South-eastern Asia or SEA, is the geographical south-eastern region of Asia, consisting of the regions that are situated south of mainland China, east of the Indian subcontinent, and north-west of mainland Australia which is part of Oceania. Southeast Asia is bordered to the north by East Asia, to the west by South Asia and the Bay of Bengal, to the east by Oceania and the Pacific Ocean, and to the south by Australia and the Indian Ocean.

Economic Growth and Poverty Reduction

Explores the impact of economic growth on poverty reduction and income inequality worldwide.