March 26, 2021 | Invest Indonesia

2021 Challenges All to Expedite Economic Recovery: Minister

Source from: Antara News

Original News HERE

Finance Minister Sri Mulyani Indrawati believes that 2021 is a challenge to accelerate economic recovery through cooperation with several stakeholders.

“With this extraordinary cooperation, we can keep our economy from experiencing a very deep contraction, although in the second quarter of last year, it was inevitable that we recorded a contraction of more than five percent, but in the third, fourth quarter, it has started to recover,” the finance minister stated during a talk show titled “Stakeholder Meeting for the Acceleration of National Economic Recovery” in Semarang, Thursday.

Indrawati highlighted the need to expedite economic growth in 2021 to offer job opportunities and restore the people’s welfare.

“In such a scenario, the government not only utilizes the State Budget instrument, but the president along with the coordinating minister for economic affairs also continue to support reforms in our investment activities. Hence, the Job Creation Omnibus law is very important,” she pointed out.

Indrawati believes that economic recovery could not be achieved by solely relying on the state budget in the wake of the huge burden borne due to the COVID-19 pandemic.

Hence, the government along with related stakeholders — Bank Indonesia and the Financial Services Authority (OJK), including the Deposit Insurance Corporation (LPS) — continue to work together, not only to restore the economy but also to make the national economy stronger.

“This is a complementary part, the State Budget instrument. However, thereafter, the governor of BI along with the monetary, OJK, and then reforms in the structural sector will help Indonesia not only recover but also grow back stronger and better,” she remarked.

The finance minister stressed that society and the business world played a crucial role in speeding up economic growth. Indrawati believes that the government will continue to monitor and align several policies in accordance with the dynamics in society.

“The most important aspect is that the public can partake in protecting against COVID, and that the business world has begun to have the confidence to bounce back,” she stated.

The government is optimistic that economic growth in 2021 would lie in the range of 4.5 to 5.3 percent, at a better position as compared to minus 2.07 percent recorded last year.

Health management in 2021 continues to be the government’s key priority. The budget expended by the government also rose, specifically Rp309.6 trillion, a significant increase from Rp113 trillion in 2019.

Comprehensively, the budget for testing and tracing reached Rp9.3 trillion; treatment costs totaled Rp32.3 trillion; incentives for health workers touched Rp7.2 trillion; vaccination program, Rp36 trillion; and communication, Rp1.2 trillion.

Reporter: Kuntum K, Azis Kurmala
Editor: Suharto, Ine