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Industry Minister optimistic that economy will grow 5.5% this year

04 January 2021 10:25

JAKARTA - Minister of Industry Agus Gumiwang Kartasasmita said he was optimistic that Indonesia's economic growth in 2021 would reach 5.5 percent. This optimism cannot be separated from the entire series of strategies and policies that have been prepared by the government in order to accelerate efforts to recover the national economy due to the Covid-19 pandemic.

"With various combinations of policies and opportunities that we take advantage of optimally, it is hoped that the Indonesian economy can grow around or in the 4.5 to 5.5 percent range in 2021," he said in Jakarta, Sunday (3/1).

The Minister of Industry emphasized that the government's determination to pursue an economic growth rate of 5.5 percent in 2021 is in line with the growth projections made by international institutions. For example, the OECD projects that the global economy in 2021 will grow by 4.0 percent. Meanwhile, the ADB estimates at 5.3 percent, and the IMF is aiming for 5.2 percent.

In addition, the World Bank predicts the global economy next year will be in the range of 4.4 percent, and Bloomberg Median has set a target of around 5.6 percent. "Meanwhile, for the outlook for the State Budget, the growth has been set at 5.0 percent," said Agus.

Minister AGK said that the government will take several strategic steps to accelerate national economic recovery, including procuring and administering vaccines to the public. Apart from vaccinations, the key to driving national economic growth in 2021 also includes the implementation of the Job Creation Law. Then, the implementation of the National Economic Recovery (PEN) program which has been intensified in 2020. (LM)

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