Home Commodities VP Candidates Urged to Advocate Departure from Commodity-Centric Economy

VP Candidates Urged to Advocate Departure from Commodity-Centric Economy

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Jakarta. All three vice-presidential candidates are expected to introduce initiatives that will steer Indonesia away from its heavy reliance on commodity trade during the debate scheduled for next week.

The candidates — Muhaimin Iskandar, Gibran Rakabuming Raka, and Mohammad Mahfud MD — will face off again for the second time to engage in economic and environmental issues on the debate stage.

Economist Bhima Yudhistira said the country needs to adopt a shift from the current economic model, citing the fragility and vulnerability of Indonesia’s economy to fluctuating commodity prices.

“Our economy faces intense pressure when global prices of mining products decline. Hence, we must plan a departure from this unsustainable economic model,” Bhima said on Saturday.

He said a commodity-centric economy not only harms the environment but is also susceptible to corruption.

As the director of the research firm Center of Economic and Law Studies (Celios), Bhima advocated for the adoption of a “green economy” that is both environmentally friendly and sustainable.

A Celios study indicates that a green economy has the potential to boost the country’s gross domestic product by Rp 2,943 trillion and create 19 million new jobs in the next decade.

“If we aspire to achieve economic growth exceeding 7 percent and lift the country from the middle-income trap, the only solution is the green economy,” Bhima said.

He urged vice-presidential candidates to propose concrete programs for phasing out coal and promoting renewable energies.

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