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Growth Trap

By
A PRASETYANTONO
· 5 minutes read
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KOMPAS/RIZA FATHONI

The construction of the Kelapa Gading-Pulo Gebang toll road project in the Tipar Cakung area, East Jakarta, Wednesday (06/02/2019). The 9.3-kilometer toll road in the Kelapa Gading-Pulo Gebang section is targeted to operate in mid 2019. The toll road is equipped with a special Transjakarta lane and is expected to reduce the traffic density on the north-east lane of Jakarta.

Economic growth in 2018 of 5.17 percent was the best recorded in the last four years. However, in this political year, this performance has actually sparked controversy. First, even though it was better than 2017, it was not as high as the government’s target of 5.4 percent. It was even lower than the revised target of 5.2 percent. Second, it was well short of President Joko Widodo\'s 2014 campaign promise of 7 percent. Regardless of the political debate, it must be admitted that we are trapped in a moderate growth pattern, which makes it difficult to go higher.

We experienced the peak of economic growth in 2011 of 6.5 percent. After that, growth fell to 6.2 percent in 2012 and to 5.8 percent in 2013. The main factor is that the explosion in commodity prices ended.

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