Economy in indonesia
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The economy of Indonesia is the largest in Southeast Asia and is one of the emerging market economies. As a middle income country and member of the G20, Indonesia is classified as a newly industrialized country.[28] It is the 17th largest economy in the world by nominal GDP and the 7th largest in terms of GDP (PPP). Estimated at US$40 billion in 2019, Indonesia's Internet economy is expected to cross the US$130 billion mark by 2025.[29] Indonesia depends on domestic market and government budget spending and its ownership of state-owned enterprises (the central government owns 141 enterprises). The administration of prices of a range of basic goods (including rice and electricity) also plays a significant role in Indonesia's market economy. However, since the 1990s, the majority of the economy has been controlled by individual Indonesians and foreign companies.[30][31][32]
Explanation:
In the aftermath of the 1997 Asian financial crisis, the government took custody of a significant portion of private sector assets through the acquisition of nonperforming bank loans and corporate assets through the debt restructuring process and the companies in custody were sold for privatization several years later. Since 1999, the economy has recovered. Growth has accelerated to over 4–6% in recent years.[33]