RI's G20 Presidency to benefit economy, facilitate social development

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It is also a momentum to show the success of our structural reforms.

Jakarta (ANTARA) – Indonesia’s G20 Presidency is expected to boost domestic consumption up to Rp1.7 trillion, according to Coordinating Minister for Economic Affairs Airlangga Hartarto.

“Domestic consumption is estimated to reach Rp1.7 trillion, the gross domestic product increases up to Rp7.47 trillion, and employment absorbs around 33 thousand workforce in various sectors,” Hartarto noted during the virtual G20 press conference on Tuesday.

The minister remarked that the figures are expected to increase by 1.5 to two folds in aggregate as compared to that during the 2018 International Monetary Fund and the World Bank Meeting in Bali owing to 150 meetings to be held in one year amid Indonesia’s presidency.

“It is also a momentum to demonstrate the success of our structural reforms — comprising the Job Creation Act — and will certainly encourage the confidence of global investors to accelerate economic recovery and promote mutually beneficial global partnerships,” the coordinating minister stated.

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In addition to benefiting the domestic economy, Hartarto noted that the G20 Presidency will also support social development since Indonesia has the opportunity to raise the topics on vaccine production and distribution.

“We continue to push for vaccines to become global public goods. We also encourage to ease accessibility of the vaccines for Indonesian people and low-income developing countries,” he remarked.

According to Hartanto, Indonesia’s G20 presidency will encourage the coordination of global policies that contribute to a balanced global governance, make G20 adaptive to crises, as well as strive for national interests in global forums – comprising issues of digital transformation and inclusive economy.

In addition, Indonesian government will accentuate the importance of strong coordination between ministries and institutions involved in the 16 working groups as well as non-governmental and civil society stakeholders involved in the 10 engagement groups.

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The coordinating minister stated that the involvement of various elements of society indicates democratization in the discussion and determination of strategic issues in the global order.

Furthermore, the involvement of all interest groups reflects the government’s inclusiveness and openness to synergize all components of society for achieving strong national economic recovery with good governance.

“The attempt also demonstrates to the international community that Indonesia is ready to be the leader of global economic recovery with the spirit of consensus and togetherness,” Hartanto added.

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