The Middle Class Slump | August 13, 2024

8.5 million Indonesians no longer middle class

Author

Andra Nasrie
August 13, 2024 • Estimated Reading Time: 1 minute

Hello reader,

Consider yourself privileged if you’ve still got a healthy savings account. A recent study found that millions of Indonesians dropped out of middle-class status in recent years amid economic challenges in the country.

That means constantly eating into their savings, while few jobs exist that may reverse their situation. How did we get here despite years of stable GDP growth? We look at the main factors in the Business section below.

Enjoy reading!

Cheers,

Andra

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