Indonesian Economic Growth Enjoys Only Rich People. According to INDEF
ChannelNasional. Economist from the Institute for Development of Economics and Finance (INDEF), Abdul Manan, assessed that the economic growth felt by Indonesia at this time was still more enjoyed by the rich. This is known from the distribution of wealth and expenditure.
Based on data from the Swiss Financial Institution, Credit Suisse, said Abdul, 1 percent of the richest people in Indonesia control 46 percent of wealth at the national level.
The reason is that people in the 1 percent group control capital, natural resources, and access to government and financial institutions.
In fact, at the same time Indonesia's economic growth has increased year on year in the third quarter, from 5.06 percent in 2017 to 5.17 percent in 2018.
"This shows that those who enjoy economic growth are those who have production factors, especially capital and access to natural resources," Abdul said when contacted by Tirto on Thursday.
In the distribution of expenditures, Abdul said, the data from the National Socio-Economic Survey (Susenas) showed that 20 percent of high-income or high-income residents contributed to 46.60 percent of national expenditure.
Meanwhile, 40 percent of the middle class population and 20 percent of the lower class population each contributed to 36.93 percent and 16.47 percent of national expenditure.
This, said Abdul, was caused by a large part of the large corporate world that often benefited when world oil prices rose.
If world oil prices rise, producers can easily raise prices as compensation for additional production costs. While for residents in the middle and lower classes will receive the impact with a more expensive selling price.
"From there we can see that anyone who enjoys economic growth is a rich person who is engaged in a corporation. So people in the lower middle class who are not engaged in that field, do not enjoy rising economic growth, "Abdul said.
Based on data from the Swiss Financial Institution, Credit Suisse, said Abdul, 1 percent of the richest people in Indonesia control 46 percent of wealth at the national level.
The reason is that people in the 1 percent group control capital, natural resources, and access to government and financial institutions.
In fact, at the same time Indonesia's economic growth has increased year on year in the third quarter, from 5.06 percent in 2017 to 5.17 percent in 2018.
"This shows that those who enjoy economic growth are those who have production factors, especially capital and access to natural resources," Abdul said when contacted by Tirto on Thursday.
In the distribution of expenditures, Abdul said, the data from the National Socio-Economic Survey (Susenas) showed that 20 percent of high-income or high-income residents contributed to 46.60 percent of national expenditure.
Meanwhile, 40 percent of the middle class population and 20 percent of the lower class population each contributed to 36.93 percent and 16.47 percent of national expenditure.
This, said Abdul, was caused by a large part of the large corporate world that often benefited when world oil prices rose.
If world oil prices rise, producers can easily raise prices as compensation for additional production costs. While for residents in the middle and lower classes will receive the impact with a more expensive selling price.
"From there we can see that anyone who enjoys economic growth is a rich person who is engaged in a corporation. So people in the lower middle class who are not engaged in that field, do not enjoy rising economic growth, "Abdul said.
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