JAKARTA - The government hopes that the investment climate in Indonesia will become more conducive and Indonesia will be trusted by more investors, as Indonesia's status rises from a lower middle-income country to an upper middle-income country. The World Bank found out that Indonesia's per capita Gross National Income (GNI) rose to US$ 4,050 in 2019, from its previous position of US$ 3,840.
As quoted from the Setkab.go.id page on Thursday (2/7), the status is used by the World Bank as one of the factors to determine whether a country is eligible to use World Bank facilities and products, including loan pricing.
The government hopes that the upgrade will be proof of Indonesia's economic resilience and sustainable growth that has been maintained in recent years. In addition, this condition can increase investment, improve economic competitiveness and current account performance, and strengthen financial support. (LK/AR)