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Sri Mulyani’s message: LPDP graduates must save Indonesia from this trap

Jakarta, CNBC Indonesia – Minister of Finance (Menkeu) Sri Mulyani gave a message to students of the Education Fund Management Institute (LPDP). This message was conveyed at the LEAD x GEMA ‘Unlocking Potentials for Better Indonesian Future’ event in London, some time ago.

In his speech, he asked LPDP scholarship students to help the government to get Indonesia out of the middle income trap or low per capita income.

“All of you who have invested in the country, you have a responsibility to make Indonesia not stop at middle income. Now actually middle upper income is above US$ 5,000. Upper to high income is really too far,” said Sri Mulyani, quoted from the account. Personal Instagram, @smindrawati, Wednesday (8/4/2024).

According to the World Bank, to become a high income country, Indonesia must achieve GNI per capita above US$ 12,535.

Sri Mulyani said that LPDP students have a responsibility to make Indonesia avoid the middle income trap. He said that currently Indonesia is actually in upper income because its per capita income is above US$ 5,000.

Sri Mulyani also advised LPDP students not to go home with little knowledge and experience, and to continue studying harder.

“Don’t go home with only 10% of your knowledge and experience. You have to go home with more. So, study, be ambitious, work extremely hard. Don’t be whiny, don’t be arrogant,” he stressed.

Quoted from the Financial Report for the first semester of the 2023 fiscal year, the balance of the Endowment Fund in the Education Sector is estimated at IDR 139.108 trillion at the end of 2023.

Meanwhile, the number of scholarship recipients in the financing period (on-going) of the native LPDP program as of June 30 2023 is 7,524 people with the percentage of scholarship recipients studying domestically at 59.82% (4,501 people) and abroad at 40.18% ( 3,023 people).


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