Jakarta: Measures to control COVID-19 pandemic and enforcement of health protocols are key to economic recovery next year, according to Minister of Finance Sri Mulyani Indrawati.
"People’s consumption and production activities will solidify our measures to revive the economy in 2022," the Minister said at the Presidential Office, Monday, as quoted from the Cabinet Secretariat's website.
According to the Minister, the pandemic control has restored Consumer Confidence Index (IKK), Purchasing Managers’ Index (PMI), exports, imports, and electricity consumption.
The country's outlook for economic growth in 2021 is still at 3.5 to 4 percent of the GDP, sustained by demand side, especially investment, consumption and exports, as well as production side, especially manufacturing, trade and mining sector.
The Minister went on to say that financial market performance is also getting stronger, reflected by the strong state bonds (SBN), Stock Price Index and exchange rate, while rising inflation comes into play in shaping the policies formulated by the developed countries.
Sri Mulyani also underscored that the Indonesian Government continuously uses the State Budget as an instrument to take counter cyclical measures in a measurable manner.
She added that the State Budget is also used as an instrument to stimulate national economic recovery.
The former World Bank managing director further said that Ministry of Finance and central bank Bank Indonesia will continue to join hands in maintaining economic stability, exchange rates, inflation, and sustainability in financing.
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