Gov’t Speeds Up National Economic Recovery

Stakeholders Meeting to accelerate the National Economic Recovery at Hotel PO Semarang, Thursday (25/03). Image source: kemenkeu.go.id

The Government is committed to maintaining the momentum of economic recovery by accelerating the National Economic Recovery (PEN) programs, implementing Job Creation Law, and accelerating vaccination, Minister of Finance Sri Mulyani Indrawati has said.

“The strategy includes the COVID-19 (handling), as well as demand and supply,” the Minister said in Stakeholders Meeting for Acceleration of National Economic Recovery in Semarang, Central Java Province, Thursday (25/03).

Sri expressed her optimism about Indonesia’s economic growth in the second quarter of 2021 due to accelerated COVID-19 handling, provision of vaccine and vaccination programs, as well as self-discipline in following health protocols. For the demand side, she added, Indonesia’s exports have increased by 8.57 percent, while imports and consumption of cement and steel have also increased.

In a bid to restore the national economy, the Government is also carrying out structural reforms through Law Number 11 of 2020 on Job Creation. The implementation of the Law aims to simplify regulations, encourage job creation, improve ease of doing business, and improve the investment climate.

Ministry of Finance, the central bank Bank Indonesia, the Financial Services Authority (OJK), the Indonesia Deposit Insurance Corporation (LPS) and Commission XI of the House of Representatives (DPR) continue to strengthen synergy and coordination to ensure that fiscal, monetary, and financial policies as well as the structural reforms run effectively and are implemented to accelerate economic growth.

“Coordination and collaboration between the executive and legislative branches are important, because this issue cannot be solely handled by one institution or one person. We need to work hand in hand,” the Minister said. (Public Relations of Ministry of Finance/ UN) (RI/LW)