Illustration (Photo:Medcom.id/M Rizal)
Illustration (Photo:Medcom.id/M Rizal)

Govt Prepared to Face Recession: Minister

English indonesian economy (en)
Antara • 14 Agustus 2020 21:07
Jakarta: Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan echoed the government’s readiness to face a recession, with its infrastructure preparations and solid programs in place.
 
While delivering a scientific speech to commemorate the Anniversary of the School of Strategic and Global Studies in Jakarta, Friday, the minister highlighted the projection of zero-percent economic growth for Indonesia or to lie in the positive territory of 0.5 percent and in the worst-case scenario reaching negative 0.5 percent.
 
"Yes, if a recession occurs, it could take place. However, we are ready to face it all owing to the infrastructure we build, the programs we create, the executions we carry out, and we feel comfortable," he affirmed.

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Pandjaitan claimed that the use of the term "comfortable" is not only based on his personal opinion but also from the studies of several international institutions, including the IMF, the World Bank, and other international credit rating agencies.
 
The minister maintained that he routinely offered explanations on the economic conditions and handling of the covid-19 pandemic to those institutions to obtain inputs on policies undertaken by Indonesia in order to restore the economy amid the pandemic.
 
"They always say that our program is a very comprehensive one, perhaps to some extent, the best among emerging markets. Hence, in fact, our execution (of the program) is the most important aspect. The program has been well-prepared," he remarked. (antara)
 
(WAH)
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