Asian financial crisis in 1999 to less than 25% today. Fitch and Moody's upgraded Indonesia's
credit rating to investment grade in December 2011.
Indonesia still struggles with poverty and unemployment, inadequate infrastructure, corruption, a
complex regulatory environment, and unequal resource distribution among its regions. President
Joko WIDODO - elected in July 2014 – seeks to develop Indonesia’s maritime resources and
pursue other infrastructure development, including significantly increasing its electrical power
generation capacity. Fuel subsidies were significantly reduced in early 2015, a move which has
helped the government redirect its spending to development priorities. Indonesia, with the nine
other ASEAN members, will continue to move towards participation in the ASEAN Economic
Community, though full implementation of economic integration has not yet materialized.