How Much Economic Growth Can Reduce Poverty?

Economics & Macro

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14/06/2017 17:43 WIB

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Indonesia's Economic Growth and Poverty Rate: 2010-2018

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How Much Economic Growth Can Reduce Poverty?

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Indonesia's Economic Growth and Poverty Rate: 2010-2018

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On Tuesday (June 13th), the Government and the House of Representatives (DPR), represented by Commission XI, reached an agreement on the 2018 macroeconomic assumptions. This agreement sets the target for economic growth next year at 5.2-5.6 percent. This figure is expected to reduce the poverty rate to 9.5-10 percent.

The 2018 Macroeconomic Framework and Main Fiscal Policy Points from the Ministry of Finance states that over the past 10 years, the Indonesian economy has grown quite strongly, averaging 5.64 percent. However, this growth has not been able to significantly reduce poverty. For every 1 percent increase in economic growth, poverty decreased by only 0.116 percent in the 2010-2012 period and by 0.059 percent in the 2013-2016 period. The poverty rate, which stood at 13.3 percent in 2010, decreased to 10.7 percent in 2016.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."