Wealth illusion: The fading mirage of Indonesia’s middle class

Indonesia’s middle class is shrinking. After expanding by 21 million from 2014 to 2018, it contracted by 8.5 million in the past six years, reducing its size to 52 million, as reported by the Indonesia Economic Outlook 2024. This class, which comprised 21-23% of the population before the pandemic, dropped to 17% last year, as
The post Wealth illusion: The fading mirage of Indonesia’s middle class appeared first on Asia Times.Asia TimesRead More