A farmer clears weeds at a rice field in Cianjur, West Java province on June 12, 2014. The World Bank says in a report released on June 23 that Indonesia must improve its competitiveness by closing infrastructure and skills gaps and by improving functioning of markets. (Reuters Photo/Beawiharta)
Unless the economy grows much faster than the current 5 percent to 6 percent, Indonesia will not escape the so-called middle income trap, the World Bank says in a statement announcing release of its Indonesia development policy report on Monday in Jakarta.
Indonesia must improve its competitiveness by closing infrastructure and skills gaps and by improving functioning of markets, Rodrigo Chaves, World Bank country director for Indonesia, says in a statement.
These actions would have knock-on effects on raising productivity and incomes, and would require better government spending that cuts inefficiencies such as fuel subsidies, Chaves says.
Bloomberg
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