This achievement that was recorded as the basis for recovery during this pandemic was much faster than Indonesia's recovery after the 1997-1998 financial crisis
Jakarta (ANTARA) - The Indonesian government had spent around US$45.9 billion, or 23.6 percent of the total spending in 2021 for economic recovery, according to Finance Minister Sri Mulyani Indrawati.

Indrawati noted that the handling of COVID-19, for which large amounts of money had been funneled, had finally succeeded in boosting Indonesia's economic growth in 2021 after having contracted 2.07 percent in 2020.

"We can see that in 2021, the Indonesian economy has managed to grow 3.65 percent after experiencing a contraction of 2.07 percent in 2020," the minister remarked at the G20 Agenda here on Wednesday.

Indrawati affirmed that recovery had occurred in all sectors, in terms of production, supply and demand, as well as exports, which were strongly driven by the global recovery.

Strong growth also occurred in some very important sectors, such as manufacturing, trade, and mining, owing to rising commodity prices. Indonesia's economic output has also exceeded the pre-pandemic levels.

The minister emphasized that these positive developments had made Indonesia one of the developing countries, with a fast recovery.

"This achievement that was recorded as the basis for recovery during this pandemic was much faster than Indonesia's recovery after the 1997-1998 financial crisis," she explained.

However, the minister ensured that the government will continue to apply policies effectively, as the recovery process is still ongoing and will continue to need fiscal support.

"For us, this is an excellent result economically, and this is thanks to the policies we learned from past experiences. We are accelerating efforts to contain the impact of the pandemic and seek recovery," the minister affirmed.

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Translator: Katriana
Editor: Sri Haryati
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