World Bank – News

Indonesia’s Prabowo Targets 8% GDP Growth Through Domestic Consumption Push

Indonesian President Prabowo Subianto has outlined an ambitious economic vision targeting 8% annual GDP growth. The strategy centers on massive domestic consumption programs including a nationwide free meal initiative and state-owned enterprise rationalization.

Ambitious Growth Target Set by Indonesian Leader

Indonesian President President Prabowo Subianto has expressed strong confidence that Indonesia can achieve an ambitious annual GDP growth target of 8%, according to reports from the recent Forbes Global CEO Conference in Jakarta. The president reportedly stated that this growth would be driven primarily by efforts to boost domestic consumption through large-scale social programs.

by Ethan Reynolds PhDOctober 15, 2025

Business Telecom

Telcos Transform Into Banks For Next Two Billion Customers

Telecommunications companies across Africa and Latin America are leveraging their infrastructure to provide banking services to underserved populations. With 1.4 billion adults remaining unbanked globally, telcos are positioned to become the financial institutions of the future through mobile money platforms and digital payment systems.

Telecommunications companies are rapidly transforming into banking institutions for the next two billion customers, leveraging their existing infrastructure to provide financial services to underserved populations across developing regions. This strategic pivot addresses both the massive customer churn facing telephone companies and the critical gap in financial inclusion that traditional banks have failed to fill. According to industry analysis, telcos in Africa and Latin America spend $15-21 billion annually on customer retention while still losing up to 67% of their customers each year, creating an urgent need for service diversification that increases customer loyalty and revenue streams.