OECD: Strong Growth in Indonesia but Takes Time to be High-Income Economy

OECD Growth Projections 2014-2018:

	GDP Growth
Indonesia	6.0%
Philippines	5.8%
Malaysia	5.1%
Thailand	4.9%
Singapore	3.3%
Brunei Darussalam	2.3%

^{Source: OECD}

Southeast Asia, together with China and India, will grow due to increased domestic demand although India is expected to start to weaken. OECD Development Centre economist Kensuke Tanaka said that it is important for Asian developing countries to implement structural reforms in order to maximize usage of capital inflows and anticipate the negative impact of capital outflows.

The OECD expects that Indonesia will become a high-income economy in 2042, significantly later than its regional peers Thailand (2031) and Malaysia (2020). A high-income economy is defined as a country with a gross national income per capita above USD $12,000 (in 2013). Based on a simulation that takes into account economic growth, inflation and the exchange rate, the OECD came to this conclusion in the report "Beyond Middle Income Trap"


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