The World Bank Emphasizes the Importance of Basic Education

Support for improving the quality of human resources is done by prioritizing the expenditure of the state budget for basic education.
According to a World Bank report entitled Growing Smarter: A number of developed countries in the East Asia and Pacific region, such as Japan, China, South Korea and Singapore, spend the bulk of their state budget on basic education.
Solid public investment has initially proven successful in providing a strong foundation for the next level of Education system.
Singapore accounted for a third of the national budget for Education in 1952, and now only provides a fraction of a fifth. Merlion State revenue is also driven by a market of qualified workers.
Meanwhile, South Korea budgeted 14.3% of its total budget in 1963 and dropped to 8.13% - 9.3% in 2013.
In 1955, Japan budgeted 14.5% of government spending on Education to 8.13% - 9.3% in 2009 - 2013.
Victoria Kwakwa, vice president of the World Bank for East Asia and the Pacific, points out that high quality education for all children equals strengthening the economic foundations.
"Provision of Education is not only appropriate but also a strong economic foundation and the best way to stop inequality," he wrote as quoted from Thursday (15/3).
Furthermore, the report also shows that the economic growth of the East Asia and Pacific Region has been moving since 1960.
During the period 1960 - 2005, the economy of this Region grew more than doubled as much as 7.2% compared with the average growth rate of 3.5% in the world.
In fact, apart from China's spectacular growth, Asia and Pacific countries continue to grow above the world average for half a century.
The richest countries generally megalocate more budgets for lower levels of Education.
As for Indonesia, which budgeted 20% APBN for Education is more channeled for secondary education.
"Although Indonesia is progressing, the current system is not sufficient to support the labor market.
Indonesia should not only invest through assets, but also the empowerment of its human resources, "said Camilia Holmemo Led Human Development Program of World Bank Indonesia, in Jakarta.