By: Prabowo Subianto [excerpted from “Strategic Transformation of the Nation: Towards Golden Indonesia 2045”, page 48, 4th softcover edition]
As mentioned in the opening of this book, I emphasized the importance of achieving growth rates above 6% annually to avoid the middle-income trap. This target becomes more challenging to reach with the current economic conditions, including weakening economies and potential recessions in developed countries.
This situation complicates matters for Indonesia as it affects the demand for Indonesian export products and leads to an increase in benchmark interest rates, which in turn puts pressure on the Rupiah exchange rate.
