Jakarta, The Indonesia Post – Expert Staff of the Minister of Finance for State Expenditure Kunta Wibawa Dasa Nugraha stated that Indonesia’s economic growth in 2020, which contracted by 2.07 percent (yoy), was still above the global average.
“Even though it is a minus, if the world level is minus 3.5 percent, it means we are much better than the world average. There are even countries with a minus far above 3.5 percent,” he said in the Webinar on the Acceleration of Social Economy in Jakarta, Sunday.
Kunta explained that the peak of Indonesia’s economic depression was the second quarter of 2020 amounting to minus 5.32 percent which occurred because the government’s stimulus had not been optimally accelerated.
On the other hand, the Indonesian economy which started to improve in the third quarter, namely minus 3.49 percent and minus 2.19 percent in the fourth quarter, was realized due to the government’s stimulus continuing to show results, especially to the public.
According to him, these various stimuli were the driving force for the Indonesian economy so that overall in 2020 it was able to grow at minus 2.07 percent.
“This is our stimulus that has been running, the stimulus we have provided by the government has moved the economy so that our 2020 economic growth will only be minus 2.07 percent,” he said.
Moreover, the social protection stimulus in the national economic recovery program (PEN), which has a wider coverage and better targeting, has been able to reach almost all of the lowest 40 percent of the population.
He said the social protection stimulus was an intervention from the government in encouraging the consumption of all levels of society. “All deciles can feel government assistance, even in the first and second deciles it is positive,” he said. (icn/bbs)
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