Indonesian Minister of Economic Coordination: Indonesia’s economy is expected to achieve positive growth in 2021

According to Indonesia News Network reported on January 20, Indonesia’s Minister of Economic Co-ordination, Ilanka, said that the Indonesian economy is expected to achieve positive growth in 2021.

He said that the current economic recovery in Indonesia is supported by many factors, including the ongoing vaccination plan, comprehensive health policies, fiscal stimulus measures to stimulate purchasing power, loose monetary policy, and reforms .

In addition, the rise of the Biden administration in the US will also affect Indonesia’s economy.

At the same time, the improvement of Indonesia’s national economy can be seen from several indicators, including the Indonesian Manufacturing Purchasing Managers Index ( PMI), which is 51.3% as of December 2020. Similarly, the Consumer Confidence Index (IKK) is always positive, reaching 96.5.

Then, car sales increased from -47.9% (year-on-year) in October 2020 to -39.9% (year-on-year) in November 2020.

 

 

Source: China – ASEAN Business Council