Minister Airlangga: New Normal Boosts Indonesia's Economy



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  • Coordinating Minister for Economic Affairs Airlangga Hartarto. ANTARA/Nova Wahyudi

    Coordinating Minister for Economic Affairs Airlangga Hartarto. ANTARA/Nova Wahyudi

    TEMPO.CO, JakartaCoordinating Minister for Economic Affairs Hartarto said Indonesia’s economic performance has begun to show positive signs and strengthened in mid-June 2020 in line with the enforcement of the new normal order.

    Airlangga said the new normal had contributed to the strengthening of the exchange rate, the Composite Stock Price Index (IHSG), and the return of capital inflows to the national economy.

    “With the new normal, community activities have begun to move in a positive direction. And when viewed from its fundamentals and sentiment, the economy also gains a positive momentum,” he said in a webinar in Jakarta, Friday, June 26.

    According to him, several sectors that show positive moves include the industries of automotive, mining, building materials, financial services, information technology, heavy equipment, machinery, goods packaging, and energy generator.

    Certain sectors, Airlangga added, were not even affected during the COVID-19 pandemic and their performance increased, viz. the industries of cigarette and tobacco, staple foods, coal, pharmaceuticals and medical devices, and vegetable oils.

    “These vegetable oils are mainly Crude Palm Oil (CPO) because we have managed to produce the B30 program. These are the sectors that can help Indonesia recover faster,” said the former minister of industry.

    Read: Pandemic, ADB Forecasts Indonesia's Economy to Recover in 2021