Indonesia is on track to become Asia’s next trillion dollar economy in two years, according to IHS, joining the ranks of China, Japan, India, Australia and South Korea.
“The Indonesian economy has the capacity for robust long-term economic growth of around 5.4 percent per year over the 2016 to 2020 time horizon,” said Rajiv Biswas, chief economist, Asia-Pacific at IHS.
This will take Southeast Asia’s largest economy from its current gross domestic product (GDP) of $870 billion to $1.14 trillion by 2017. Thereafter, GDP is projected to double again by 2023 to an estimated $2.1 trillion – surpassing Australia, which is currently a $1.52 trillion economy.
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