Dzulfiqar Fathur Rahman (The Jakarta Post)
Mon July 12, 2021
Wealth inequalities in Indonesia declined in the first year of the pandemic as the rich earned less in the stock market and the share of wealth of adults in the middle and poorest groups increased amid the decline in debts.
The richest 10 percent held about two-thirds of the wealth last year, up from 74.1 percent in 2019, according to the latest global wealth report from Swiss investment bank Credit Suisse. At the same time, the wealth share of middle adults fell from 1.5% to 2.2%. The share of wealth held by the poorest 40 percent has also increased slightly.
The latest change in the distribution of wealth brought Indonesia’s Gini ratio down to 0.777 last year, from 0.833 in 2019, the lowest level since 2011. A Gini figure below 0.7 is considered low and a figure above 0.8 is high by global standards, according to the report.
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