An economic miracle needed for nation by 2045

Investment boost: Heavy traffic is seen on Jakarta streets during the morning rush hour. To escape the middle-income trap, the World Bank has recommended that Indonesia adopt the 3i policy of investment, technology infusion and innovation. – Bloomberg

JAKARTA: The World Bank has thrown cold water on Indonesia’s dream of becoming a high-income economy by 2045 and outlined some of the challenges middle-income countries face in making such a leap.

According to government planning, achieving that target in time for Indonesia’s centenary of Independence would require annual gross domestic product (GDP) growth of 6% to 7% over the next 20 years.