Conference on The Indonesian Economy under Jokowi: A New Development Model?
INDONESIA STUDIES PROGRAMME &
REGIONAL ECONOMIC STUDIES PROGRAMME
About the Conference
Four years into his presidency, President Joko “Jokowi” Widodo has arguably made significant political and economic achievements. He started his first year with several glitches, including some policy flip-flopping and two times cabinet re-shuffling. He had to deal with a divided and weak coalition. His administration had to face economic slowdown, rising inequality and massive infrastructure challenges in the country. However, by mid-2016 Jokowi managed to consolidate his power base and achieved a stable government coalition.
Jokowi’s economic achievements have shown some mixed results. In 2017, Indonesia’s GDP growth reached 5.07 percent, only slightly higher than 5.03 percent growth recorded in 2016 but much lower compared to Jokowi’s target of seven percent growth. Manufacturing sector has been growing slowly for some years. Export growth has dwindled driven by low commodity prices. As a result, government revenues have been below the targets. This in turn puts extra pressures on public budget, which are needed to sustain sufficient spending on infrastructure and welfare programs. The one-off tax amnesty program has partially filled some part of Indonesia’s fiscal gap but whether its broader goal can be achieved remains to be seen. Clearly, the Jokowi government faces an uphill battle to reform the country’s overall system of taxation and tax administration.
With one year remaining before he ends his first term in 2019, Jokowi’s seven percent economic growth target that he set during his presidential campaign seems difficult or impossible to achieve. Several factors will determine Indonesia’s economic performance in the coming years. Externally, global trade and investment growth, oil and commodity prices are factors that may affect Indonesia’s growth. Internally, the country’s economic performance will be dependent on the progress of Jokowi’s priority developmental programs, including sectors like infrastructure, social welfare, maritime and fisheries.
Most importantly, the country’s economy will depend much on the progress of various deregulation and de-bureaucratization measures. Sixteen economic policy packages, aiming to harmonize regulations, simplify bureaucratic process, and ensure law enforcement, have been announced since September 2015.
Given the above background, the ISEAS – Yusof Ishak Institute (ISEAS) invites a group of leading international scholars to make presentations on various major aspects of Indonesian development issues. These experts will examine the current state of policies and achievements with regard to Indonesia’s economic development; and to discuss the potential challenges for Indonesia to achieve its development goals and the implication of those challenges for Jokowi’s electability in 2019.
Attendance to the Conference is free of charge but registration is required by 16 March 2018.
As seats are limited, please register early. Admission to the Conference can only be taken as confirmed upon receiving the written acceptance from ISEAS.
For any queries, please feel free to e-mail email@example.com.
Please click here to view the Programme.