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Jakarta Post

Social protection: World Bank’s formula for Indonesia to unlock growth potential

  • Marchio Irfan Gorbiano

    The Jakarta Post

Jakarta   /   Thu, December 12, 2019   /  11:12 am
The Jakarta Post Image
Students show the new Indonesia Smart Cards (KIP) they received from the government in Jakarta on Wednesday. The KIP provides cash assistance to students from low- income families to buy books and other school supplies.(JP/Seto Wardhana)

The World Bank has suggested the government focus its structural reform agenda in a number of areas, including the country’s social protection scheme to improve people’s welfare and unlock growth potential in the medium term. Reforming the country’s social protection scheme would ensure that people entering the workforce were under the best possible conditions to thrive in the labor market as Indonesia would soon transition from being a demographic dividend country to an aging society, according to the bank’s Indonesia Economic Quarterly issued Wednesday. “Social protection helps build, employ and protect human capital. It helps build human capital because a demographic transition means that there are fewer Indonesians entering [the] labor market and more will enter old age,” said World Bank lead Indonesia economist Frederico Gil Sander...