Indonesia interprets its position in the G20 Presidency as a leader who will determine the direction of future developments in the world economyYogyakarta (ANTARA) - Coordinating Minister for Economic Affairs Airlangga Hartarto has said that Indonesia's Presidency of the G20 is an honor and an opportunity to demonstrate its leadership in the group's member countries' economic recovery after the COVID-19 pandemic.
"Indonesia interprets its position in the G20 Presidency as a leader who will determine the direction of future developments in the world economy," he stated during a virtual event at the Yogyakarta Muhammadiyah University on Monday.
Post-pandemic economic growth will be the topic of discussion at the 2022 G20, which is themed 'Recover Together, Recover Stronger', he added.
A strong economic recovery would entail an inclusive recovery and transformation that is in line with the G20 vision, Hartarto said.
Indonesia's economic growth target in 2022 reflects this projected recovery, with the Indonesian government expecting a 5.2–5.5 percent increase in economic growth, the minister added.
"The G20 is a policy coordination forum that was born in response to the economic crisis in 1998 and 1999. It represents 85 percent of the world's gross domestic product (GDP), 75 percent of global trade, 80 percent of global investment, and two-thirds of the world's population," he noted.
He said he believes that Indonesia has strong capital to achieve its economic growth target. The nation's economic growth was recorded at 3.5 percent in the third quarter (year on year) of 2021, he noted.
"Looking at the COVID-19 handling, where the reproduction rate is below 1 percent, to be exact 0.7 percent, I believe it can lead us to have economic growth at the end of 2021, which can reach 3.7–4.5 percent," he emphasized.
According to Hartarto, Indonesia will put emphasis on an equal distribution of international production centers to strengthen global supply chains and encourage independent production for increasing added value.
He said he hoped that the G20 Presidency would increase domestic consumption with a direct impact of Rp1.7 trillion, increase GDP by Rp7.4 trillion, and create 33 thousand jobs in various sectors.
Meanwhile, Chairman of the Muhammadiyah Central Executive Board Haedar Nashir said that the G20 Presidency was a positive achievement amid the COVID-19 recovery situation, adding it has built optimism about Indonesia's role in the global arena.
"This achievement must be appreciated by all elements in the country to strengthen domestic mobilization. Moreover, according to experts, Indonesia has the potential to become a country with large economic power like the US, China, and India," he remarked.
Related news: Prioritize national interests through strategic role in G20 Presidency
Related news: Indonesia's G20 presidency to highlight equitable economic recovery
Related news: Indonesia to push for sustainable recovery during G20 Presidency
Translator: Luqman Hakim, Resinta S
Editor: Sri Haryati
Copyright © ANTARA 2021
