Indonesia spends 45.9 bln USD for economic recovery in 2021

Jakarta (Indonesia Window) – The Indonesian government had spent around 45.9 billion U.S. dollars or 23.6 percent of the total expenditure in 2021 for economic recovery, Finance Minister Sri Mulyani Indrawati has said.

She said the government’s measures to deal with COVID-19 with these funds finally succeeded in sustaining the Indonesian economy to grow positively throughout 2021 after contracting 2.07 percent in 2020.

In 2021 the Indonesian economy grew 3.65 percent, after a contraction of 2.07 percent in 2020, she said at the G20 Agenda meeting here on Wednesday (Feb. 16).

According to her, the recovery momentum has occurred in all sectors, including productions, supplies, demands, and exports, which ware strongly driven by the global recovery.

Strong growth has also observed in major sectors such as manufacturing, trade and mining due to rising commodity prices, and even Indonesia’s economic output has exceeded pre-pandemic levels.

Sri Mulyani emphasized that these positive developments made Indonesia one of the developing countries with a fast economic recovery.

“This achievement is due to the basis of recovery during the pandemic, which is much faster than Indonesia’s own experience during the 1997-1998 financial crisis,” she noted.

The minister ensured that the government would continue to apply policies effectively because the recovery process is still ongoing and requires fiscal supports.

Reporting by Indonesia Window