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Jakarta Post
The Jakarta Post
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Indonesia must boost resilience with global risks on the rise: OECD

  • News Desk
    News Desk

    The Jakarta Post

Jakarta | Wed, October 10, 2018 | 04:19 pm
Indonesia must boost resilience with global risks on the rise: OECD OECD secretary general Angel GurrĂ­a (left) and Finance Minister Sri Mulyani Indrawati attend the release of an Organization for Economic Cooperation and Development (OECD) survey in Nusa Dua, Bali, on Oct. 10. (Antara/Nicklas Hanoatubun)

The Organization for Economic Cooperation and Development (OECD) has urged Indonesia to highlight the importance of policies that could boost resilience as global risks are on the rise.

“[Global risks] also underline the potential for tax reforms that increase government revenues to meet financing needs in a growth and equity-friendly manner, as well as how tourism can contribute to sustainable regional development,” OECD survey said.

The latest OECD economic survey of Indonesia was presented on Wednesday by OECD secretary general Angel Gurría and Finance Minister Sri Mulyani Indrawati in Nusa Dua, Bali, on the sideline of the International Monetary Fund-World Bank (IMF-WB) Annual Meeting.

As quoted by an OECD press statement, Gurría said the survey aimed at promoting policies designed to improve Indonesia’s resilience to global risks.

Citing the survey projection of Indonesia’s economic growth of between 5.2 in 2018 and 5.3 in 2019, Gurría said the Indonesian economy was growing at healthy rates, and a demographic dividend would further boost growth in the coming years.

“Infrastructure, education, health and job quality still pose important challenges that must be addressed to ensure that Indonesia achieves sustainable and inclusive growth,” he said.

Meanwhile, the survey suggests that to make the economy more resilient and inclusive, Indonesia needs to improve its social assistance programs, deepen the domestic financial markets, provide better transparency and governance of state-owned enterprises, reform employment regulations to bring more workers into formal employment and further simplify business regulations. (bbn)

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