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Essay About Indonesia Economy

1607 Words7 Pages

CHAPTER I
INTRODUCTION

1.1 Background
When Indonesia got independent, their economic system was still a mess. Due to the sudden governmental system, they were not prepared to handle their economic system. Moreover, with some other countries still trying to take away their independence, Indonesia used to become a very poorly managed country. In addition, with the leadership of Suharto, the second president of Indonesia who was considered as the most corrupt leader, it had faced the greatest economic crisis for Indonesia in history. However, despite all that, Indonesia keep struggling and strive through all the challenges and obstacles. With its perseverance, Indonesia has become one of the countries with the highest economy growth rate. It has been considered as the country with the largest economy in Southeast Asia. Globally, Indonesia is the sixteenth largest economy in the world by nominal GDP. Ironically, even with those achievements and high position, Indonesia is still a poor country. Statistically, Indonesia is a rich country, but it is poorly managed. Like adding salt to the wound, ASEAN Free Trade Area …show more content…

The major problem that Indonesia often facing is inflation. However, due to its great potential, Indonesia reached its current position standing as the largest economy in Southeast Asian. It started to get worldwide attention. Nowadays, abundant foreign investment keep entering Indonesia. In fact, Indonesia is now considered to be economically strong by the IMF. The Director of IMF, Christine Lagarde, praised economy of Indonesia who are able to withstand economy crisis with a weaken currency and slow global growth rate. Indonesia is rated to be much better and improved a lot compared to the past when Indonesia was facing economic crisis in 1998 and needed help from IMF. It is a great achievements for Indonesia looking back how they no longer have high dependency towards

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