Indonesia Aiming for the World's Top Five by 2030

According to Standard Chartered Plc.'s projection, Indonesia has the potential to be among the world's five largest economies by 2030. This ranking is calculated based on Gross Domestic Product (GDP) using Purchasing Power Parity (PPP).

This projection estimates Indonesia's GDP (PPP) will reach US$10.1 trillion in 2030, placing it 4th, behind China, India, and the United States. This would put Indonesia ahead of Turkey, Brazil, and Egypt.

(Read Databoks: Indonesia's Largest Economy in Southeast Asia)

Meanwhile, according to IMF projections, Indonesia's GDP in 2019 reached US$1.1 trillion, while its GDP (PPP) was US$3.74 trillion. Therefore, the government needs to work harder to accelerate Indonesia's economic growth, which currently stands at around 5%.

(Read Databoks: Indonesia's 2018 GDP Per Capita Reached Rp 56 Million)