The balance between social-economic policies and the environment is the key to realizing a resilient and prosperous economy in the futureJakarta (ANTARA) - National Development Planning Minister and Head of the National Development Planning Agency Suharso Monoarfa highlighted the importance of a balance between social-economic policies and the environment for achieving a resilient and prosperous society.
"The balance between social-economic policies and the environment is the key to realizing a resilient and prosperous economy in the future," Monoarfa stated at the G20 Development Ministerial Meeting (DMM) observed by online means here, Wednesday.
The G20 Development Ministerial Meeting, organized under Indonesia's G20 Presidency, aims to discuss development issues in developing countries, least developed countries, and island countries.
Monoarfa emphasized that the policy balance is essential as Indonesia and the global community are still reeling from huge pressures due to the COVID-19 pandemic.
The global economy, including economies of G20 countries, is facing various risks, such as an economic decline, energy crisis, and supply chain disruption, the minister stated.
Challenges to the transition from fossil fuel to renewable energy could also disrupt global economic recovery, he remarked.
"Increasing commodity prices also means greater risk on economic recovery decline," Monoarfa stated.
The minister said that apart from economic risks, the global community is also facing risks in terms of the social aspect that included a decline in the residents' welfare and an increasing poverty rate.
Moreover, the global community is facing other risks due to climate change that will become short-, medium-, and long-term critical issues, he added.
As the current holder of the G20 Presidency, Indonesia will rally for collective actions to maintain the global resilience level, as no country can work alone to recover from the COVID-19 pandemic, Monoarfa remarked.
"We are facing challenges today and tomorrow in our bid to return to normalcy and expedite economic recovery, which becomes our main agenda in the future," the minister remarked.
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Translator: Astrid FH, Nabil Ihsan
Editor: Sri Haryati
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