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Jakarta Post

Indonesia’s prosperity rising, yet big challenges remain

  • Stephen Brien

    Director of Policy, Legatum Institute

London   /   Fri, November 29 2019   /  01:21 am

Antara/Bayu Pratama SDespite the bad news we often hear from around the world, there is still much to celebrate: Not only is prosperity increasing globally, but it is improving at a faster rate in Indonesia than all but four other countries. Worldwide prosperity has been improving steadily since 2007, and in 2019 reached its highest ever level. Of the 167 countries we measure in the Legatum Prosperity Index, 148 — including Indonesia — have become more prosperous in the last decade.Indonesia’s notable success story as one of the index’s fastest risers has been achieved by the development of better institutions and greater economic openness. Although a relatively young democracy, Indonesia is more politically stable than many of its neighbors, and has benefited from five free and fair elections since president Soeharto’s over 30-year rule ended in 1998. Indonesia’s vibrant civ...