Gov’t to Roll Out Policy Mix to Speed Up Economic Recovery
The ongoing COVID-19 crisis calls for an unprecedented response, including implementing a policy mix by breaking the chain of the coronavirus transmission combined with economic policies, the Government has announced.
“The national policy mix is necessary and a proper approach to speed up the country’s economic recovery, including to combine the outbreak containment and economic policy intervention is needed,” Minister of National Development Planning (PPN)/Head of the National Development Planning Agency (Bappenas) Suharso Monoarfa said after attending a Plenary Cabinet Meeting, Wednesday (6/5).
In the economic outlook for the national development target, the Minister continued, Indonesia’s economic growth rate is estimated to reach 5.3 percent next year.
“Based on this year’s outlook, poverty and open unemployment rate have dropped slightly. The rate is expected to change in 2021’s outlook,” Suharso said, adding that the outlook will be used as the Government Work Plan (RKP) in 2021 to revive the economy.
“The RKP 2021 will be implemented by focusing on certain development agendas and relevant to the country’s situation,” Suharso added.
According to Suharso, the RKP 2021 will cover seven national development priorities under the 2020-2024 National Medium-Term Development Plan.
“The seven priorities will include strengthening economic resilience, developing regions, improving human resources, spreading the spirit of “mental revolution”, improving infrastructure, preserving the environment, improving disaster resilience and climate change, as well as maintaining stability of political, legal and security affairs and public services,” the Minister said.
On that occasion, the Minister also said that the Government will focus on the Strategic Priority Project in the 2020-2024 National Medium-Term Development Plan.
In the strategic priority project, he added, there will be 41 projects for economic recovery worth Rp62.1 trillion and other projects amounting to Rp36.2 trillion.
“A number of priority projects for economic recovery, including to establish 10 priority tourism destinations, 9 industrial estate projects outside Java and 31 Smelters, Industry 4.0 in five Priority Sub Sectors, Vocational Schools and Training for Industry 4.0, Integrated main port network, fishing ports and fish markets with international standards, improving Business Security, as well as the corporations of 350 local farmers and fishermen,” the Minister said. (National Development Planning Ministry / Bappenas / EN)
Translated by: Syarifah Aisyah
Reviewed by: M. Ersan Pamungkas