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Indonesian President Joko Widodo sets sights on $7 trillion economy

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Christian Fernsby ▼ | October 21, 2019

KEY POINTS
  • Indonesian President Joko Widodo is due to unveil his cabinet
  • The president was sworn in for a second and final five-year term in office
  • He immediately urged lawmakers to overhaul a myriad of laws

Joko Widodo
Asia   Joko Widodo

Indonesian President Joko Widodo is due to unveil his cabinet Monday after pledging to put the world’s fourth most populous country on a path to become a $7 trillion economy by 2045.

Topics: Indonesia Joko Widodo trillion

The president, who was sworn in for a second and final five-year term in office on Sunday, is widely expected to revamp his cabinet to include professionals, key opposition figures and industrialists, and to reboot his economic team as he seeks to boost investment and growth amid a global slowdown.

Widodo took the oath of office at the parliament hall in Jakarta in a ceremony attended by several heads of state and representatives from more than 150 countries. Known colloquially as Jokowi, he immediately urged lawmakers to overhaul a myriad of laws hindering investment and job creation to rid the country of poverty. By the time Southeast Asia’s largest economy marks a century of its independence in 2045, he aims to have lifted the per-capita income to 320 million rupiah ($22,656).

“None of that will come automatically, and (it) will not come easily,” Widodo said in a speech after his inauguration. Indonesia must continue to innovate amid a world “full of risk, that is very dynamic.”


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