Chief Economic Minister: Economic Recovery Continues in Q2

By : Nata Kesuma | Tuesday, May 18 2021 - 20:01 IWST

Coordinating Minister for Economic Affairs Airlangga Hartarto
Coordinating Minister for Economic Affairs Airlangga Hartarto

INDUSTRY.co.id - Indonesia’s national economy will continue to recover and show an upward trend in the second quarter of 2021, according to Coordinating Minister for Economic Affairs Airlangga Hartarto.

“Our economy grows like a V-curve. We hope that the economic growth in the second quarter will be positive and it has been forecasted to reach seven percent,” he said in his press statement online, Saturday (15/05).

According to Airlangga, the recovery is reflected by various indicators, including manufacturing PMI and consumer confidence index.

“The PMI has reached 54.6. Consumer confidence index has also come close to the normal index at around 90 moving toward 100,” he said, adding that exports and imports have also begun to go back to normal, including Government spending that is on the positive lane.

“Several sectors, including information and communications, health care services, agriculture, property, and other industries have moved to a positive direction and seen a quite significant increase with the Government-borne luxury goods sales tax and value-added tax,” he said.

Airlangga added that Gross Fixed Capital Formation (GFCF) in the first quarter of 2021 contracted only negative 0.23 percent.

“We noticed that our GFCF has come close to zero or negative 0.23 (percent), the export is 6.74 percent, which is even higher than before COVID-19. Likewise, capital goods and consumer goods import is at 5.27 (percent),” he said, adding that the spatial economic growth has also improved as the domestic economy improves.

The Minister further said that economic growth in Sumatra island has begun to move to a positive lane at negative 0.86 percent, the growth in Java island at negative 0.83 percent, and the growth in Kalimantan island at negative 2.23 percent.

Meanwhile, several parts of central and eastern Indonesia have had a positive growth, he added.

“(The economic growth in) Sulawesi island has reached positive 1.2 percent. In fact, Maluku and Papua islands have reached 8.97 (percent). It certainly was boosted by commodity prices, including palm oil, rubber, nickel, copper, and coal,” Airlangga remarked.

News Comment

Today's Industry

Minister of Women Empowerment and Child Protection I Gusti Ayu Bintang Darmawati (Source: PR of Cabinet Secretariat)

Minggu, 20 Juni 2021 - 18:45 WIB

Gov’t Unveils Strategies to Eradicate Child Labor

In a bid to protect children’s rights in Indonesia, Ministry of Women Empowerment and Child Protection has unveiled a number of strategies to eliminate child labor in the country.

Minister of Energy and Mineral Resources Arifin Tasrif. (Photo by: PR of Cabinet Secretariat)

Minggu, 20 Juni 2021 - 17:30 WIB

Gov’t Gears Up to Finalize Regional Energy Plan Next Year

The Government has pushed for the finalization of multi–sectorial energy policies in the form of Provincial Energy General Plan (RUED-P). The RUED-P is expected to be completed next year.

President Jokowi, accompanied by West Java Governor Ridwan Kamil, in Bogor regency from Pakansari Stadium in Cibinong sub-district, West Java province. (Photo: Bureau of Press, Media, and Information of Presidential Secretariat/Lukas)

Minggu, 20 Juni 2021 - 16:15 WIB

President Jokowi Inspects Mass Vaccination for Public and People with Disabilities at Pakansari Stadium

President Joko “Jokowi” Widodo Thursday (17/06) inspected mass vaccination at Pakansari Stadium in Cibinong sub-district, Bogor regency, West Java province.

President Jokowi inspects mass COVID-19 vaccination at Bogor Train Station, West Java (17/06/2021). (Source: YouTube Channel of Presidential Secretariat)

Minggu, 20 Juni 2021 - 15:47 WIB

President Jokowi Calls for Vaccination Acceleration in Areas with High Interaction and Mobility

In a bid to achieve community immunity or herd immunity, the Government is set to boost vaccination, especially in areas with high public interaction and mobility.

President Joko “Jokowi” Widodo Wednesday (16/06) inspected mass COVID-19 vaccination for workers in financial service sector held at Tennis Indoor Senayan, Jakarta

Kamis, 17 Juni 2021 - 20:10 WIB

President Jokowi Inspects Mass COVID-19 Vaccination for Workers in Financial Sector

President Joko “Jokowi” Widodo Wednesday (16/06) inspected mass COVID-19 vaccination for workers in financial service sector held at Tennis Indoor Senayan, Jakarta.