With a credit rating now matching India's, Indonesia's poor infrastructure, overloaded roads, government corruption and bureaucracy were among the problems Fitch and other economists pointed out as problems needing work. However, if Indonesia fixes the roads by investing in infrastructure, it may not be able to maintain the debt-to-gross domestic product ratio that led to Moody's decision to upgrade their credit rating in the first place.
For this reason, attracting investors to build new infrastructure is one of the government's top priorities. Recently, Indonesia passed a bill to speed up land acquisition and give a tax break to investors helping build roads, bridges and ports or invest in base metals and petrochemicals.
The credit upgrades will also decrease the country's borrowing costs to build at a time when more developed economies have been downgraded because of their countries' debt. Indonesia has steadily reduced its debt in the past decade to around 25 per cent of gross domestic product (GDP).
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