Thohir points to Indonesia's economy faring better than other nations

Thohir points to Indonesia's economy faring better than other nations

State-owned Enterprises Minister Erick Thohir. ANTARA/Aji Cakti/am.

Jakarta (ANTARA) - State-Owned Enterprises (SOEs) Minister Erick Thohir drew attention to Indonesia's economy being currently better placed than other countries, including the Philippines, Singapore, Germany, Italy, France, and the United States.

Indonesia's economy shrank by 2.07 percent year-on-year (yoy) in 2020, with the fourth-quarter realization of minus 2.19 percent, or better than the 3.49-percent yoy contraction in the third quarter.

"(Countries in) Southeast Asia, such as the Philippines and Singapore, and in (other parts of) the world, such as Italy, France, Germany, and the US, (they) also recorded negative (growth). We should be proud. Although we cannot speak about the future being the best, but we are at a point that is definitely much better now," Thohir stated while speaking at a National Mass Media Convention here on Monday.

The minister projected the Indonesian economy to accelerate well in 2022, with this year's transition momentum.

In a bid to facilitate faster economic recovery next year, the government will continue to channel undivided attention to overcome the COVID-19 pandemic that has emerged as a major crisis.

If the COVID-19 transmission can be handled effectively, the Indonesian economy would be able to work, move, and grow better, the minister emphasized.

Thohir ensured that SOEs would continue to be at the forefront in the fight against the impacts of the pandemic.

Indonesia's SOEs are not only working commercially but also offering public services, such as ensuring the number of beds are sufficient to meet the needs of COVID-19 patients and converting Jakarta's Athletes' Village into an emergency hospital for COVID-19.

Moreover, SOE firms have played an active role in developing Indonesia's indigenous COVID-19 vaccine -- the Red and White vaccine -- as the nation does not intend to rely on imported vaccines that are expensive at the time, according to the minister.

"Now, we have collaborated with seven institutions, so we can accelerate it or we can support it, so that we would not rely on other countries," he remarked while referring to the development of the Red and White vaccine. Related news: Indonesian economy contracted 2.07 percent in 2020: BPS
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