The projected millionaire growth pace is the same as that of the world’s second-largest economy, China, which is tied with Kenya at number six globally.
The year was another humbling one for the active funds management community, which has struggled to convince investors from trillion dollar sovereign funds to individuals with small balances, that they can add value over and above the fees they charge.
It forecast primary home sales volume would climb 25 percent on-year, noting more than 60 projects with a total of 25,000 units are due to be launched in 2019, which marks a 60 percent on-year increase from 2018’s around 16,000 units launched.
Mr. Adrianto, who like many Indonesians goes by one name, says the Finance Ministry will first need to conduct a comprehensive study on the potential impact of the tax.
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