Indonesia’s economy has grown significantly in the 75 years since the country’s independence, but poverty and inequality remain formidable challenges in the country’s pursuit of equitable prosperity.
"Documenting 75 years of resilience” is a series of special reports by The Jakarta Post to celebrate Indonesia’s Independence Day, August 17, 1945.
Indonesia’s economy has grown significantly in the 75 years since the country’s independence, but poverty and inequality remain formidable challenges in the country’s pursuit of equitable prosperity.
Despite a significant contraction recorded in the 1998 Asian financial crisis and the current economic meltdown caused by the coronavirus pandemic, Indonesia’s economy, like those of many developing nations in the 20th century, has grown significantly since 1945.
This growth has helped reduce poverty and create jobs in the fourth-most populous country in the world, and the poverty and open unemployment rates reached their lowest levels in early 2020 since before the 1998 Asian financial crisis.
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However, the COVID-19 pandemic has put millions of Indonesians at risk of falling back into poverty and has caused many to lose their jobs as the economy continues to struggle. These issues may cause Indonesia to enter its first recession since 1998.
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