In the second quarter of 2021, economic growth recovered by 7.07 percent. As a whole, our projection is still positive at 3.7 to 4.5 percent year on yearJakarta (ANTARA) - The government remains optimistic that Indonesia's economy will grow at 3.7- 4.5 percent year on year until the end of 2021, Coordinating Minister for Economic Affairs Airlangga Hartarto has said.
"In the second quarter of 2021, economic growth recovered by 7.07 percent. As a whole, our projection is still positive at 3.7 to 4.5 percent year on year," the minister told participants of a webinar here on Friday.
The government continues to adapt its policies to the COVID-19 pandemic situation but it, however, does not make a one-size-fits-all policy for all regions due to diversity of their capacity and cultures, Hartarto said.
In addition to that, the government continues to distribute social aid packages to protect the purchasing power of people impacted by the coronavirus.
"We have introduced steps to avoid heavier economic pressure while also controlling the spread of the pandemic and helping those impacted through social aid distribution," Hartarto remarked.
In the midst of this COVID-19, the government has continued to reform the economic sector by ratifying the Job Creation Law, he said.
Related news: Be innovative to develop tourism and creative economy: Minister Uno
The law is expected to streamline the business licensing procedure, provide better protection to the environment, and change the existing employment policy, he added.
"As a part of the entirety of economic transformation, the Job Creation Law supports the government's goal to create more businesses to encourage investment," Hartarto remarked.
The Job Creation law has been acknowledged by the World Bank as Indonesia's most positive reform program in the last four decades, he added.
As a derivation of the Job Creation Law, the government has also recently published the Risk-Based Online Single Submission (OSS), which is expected to streamline business licensing in Indonesia, he noted.
By easing business licensing, it is expected that more investment will flow in, more workers will be employed, and Indonesia's economic recovery will proceed faster, the minister said.
Related news: Household consumption seen contributing 54% to economy in 2022
Translator: Sanya Susanti, Fadhli Ruhman
Editor: Rahmad Nasution
Copyright © ANTARA 2021
