BRIC : Indonesia Deserves To Join In BRIC (Brazil Russia India China) Economic Group

Side Of Jakarta At Bundaran Hotel Indonesia

Indonesia is back. All the experts in economic says that Indonesia should be considered in BRIC economic group. BRIC is a group of countries that the economy of this group will lead in 2050, changing the domination of the economy of developed country that we know as G7 (Canada, Unites States of America, France, Germany, Italy, United Kingdom, and Japan). The acronym of BRIC was firstly said by one of the biggest investment bank in the global market Goldman Sachs in 2001. BRIC is an acronym for big countries that have the economical growth rapidly.

Indonesia is one of the candidate for entering this economic group. So, it should be BRICI (Brazil Russia India China Indonesia). As we know that in lately 10 years, Indonesia has been made of changed in all aspects. Having good stabilization in politics, reforming in laws, reforming all the bureaucracy institutions, all that efforts are done by the government of Indonesia in order to have good governance in this country. So, Indonesia can build up efficiently in all kind of economic fields such as infrastructure, energy, agriculture, mining, financial, banking, etc to gain a high economical-growth rapidly.

Why Indonesia should be entered the BRIC economic group?. Indonesia has endorsers that make its economic can be growing faster than others.

• Indonesia has huge domestic market that not really dependent to the global market. So, it can reduce all the negative excess from the fluctuation of global market.
• “Bonus Demography of Population” that Indonesia will have in 2020. It means that the productive population is dominated for the demography of population. So, there are several human resources to encourage a high economical-growth rapidly.
• Indonesia has a lot of natural resources that can be processed to be more high-economical products. So Indonesia not only export raw material goods such as crude palm oil; coal; oil; gas; and other mining goods, but also can produce high-economical products.

In the other hand, Indonesia still has a lot of obstacles and “bottleneck” that obstruct and must be solve within the next few years in order to achieve a high economical-growth rapidly.

• The condition of all government institutions is still corrupt
• The condition of infrastructure is still not enough and not ready in all kind of aspects
• The educational background of worker in Indonesia is still low
• The mastery of technology in Indonesia is still low also

But, the economy of Indonesia is on the right track now. All the economy outlooks are increasing.

• The economical growth constantly above 5 % per year. Although there was a global crisis that happened in 2009, Indonesia still grew in a positive territory together with China and India, that was 4,5%. Moreover, Indonesia will have economical growth more than 6% starting from 2010.
• GDP per capita of Indonesia in 2009 was $3.900
• The deficit of APBN (Anggaran Pendapatan dan Belanja Negara) Indonesia is still safe and low in a rate of 1,6% compared with  Russia 6%, Brazil 3,3%, India 10%, and China 2,2%.

Hopefully Indonesia will take and play more in a global market in the future.

GDP BRIC Economic Group In 2050 Including Indonesia. Source : Wikipedia

GDP BRIC Economic Group Per Capita In 2050 Including Indonesia. Source : Wikipedia

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