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View all search resultsWhile Indonesia's headline GDP suggests an economic triumph, a deeper look at GNP reveals a hollow growth, where wealth flows outward rather than into households. The country’s impressive statistics are failing to move the needle for the middle class and the informal workers who anchor the economy.
Though the World Bank has downgraded its growth projection for Indonesia due to the economic fallout from the Iran war, a move preceded by a similar revision by the OECD last month, the government insists on the achievability of the state budget target.
One year in, Jakarta’s "more colorful" makeover is facing a gray reality of systemic waste and stagnant flood mitigation. With the honeymoon over, the city’s 11 million residents are waiting to see if their governor will finally tackle the perennial problems lurking behind the populist wins.
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