Indonesia Capable of Becoming the Seventh-Largest Economy in the World by 2030: Joko Widodo

Joko Widodo (Jokowi), President of Indonesia said with swift and appropriate growth in digitalisation in the country’s financial and economic sectors, Indonesia has the capability of becoming the seventh-largest economy globally by 2030. Speaking at the Financial Services Authority (OJK) Virtual Innovation Day, President Jokowi said that with such measures, the country could be a digital giant following China and India.

Why it Matters?

Through the ongoing COVID-19 pandemic, there is an accelerated growth in digitalisation in Indonesia with digital banks and insurance companies, electronic payment companies (e-payments) and technology-based financial services (fintech) having easier access to the public. However, it was noted that concurrently fra...