Indonesia's Economic Growth above Global Economy: Finance Ministry

TEMPO.CO, Jakarta - The Head of the Finance Ministry’s Fiscal Policy Agency, Febrio Kacaribu, said Indonesia’s economic growth had never been below the global economic growth for the past 20 years.

“We have always grown above the global economy, and this has made Indonesia become stronger and more strategic, so that Indonesia’s position in the global stage is taken seriously,” Febrio said in a KONTAN webinar titled “G20 Presidency—Benefits for Indonesia and the World” in Jakarta on Sunday, December 6, 2021.

Besides Indonesia, countries with economic growth above the global economic growth are China and India. He said the three countries were the only ones with economic growth above the global economy.

He explained that major countries such as the US, France, Brazil and Japan had been grappling with their economy, and thus for a certain period of time their economic growth was below the global economic growth.

“Indonesia, China and India are indeed the leaders. This is what has made the global economic growth always grow by around two percent or above per year,” he said.

He added Indonesia’s economic growth in the past 15-20 years had been in the neighborhood of five percent before the COVID-19 pandemic.

Febrio said this had boosted Indonesia’s confidence and should be viewed as capital to show that Indonesia was a global leader, particularly pertaining to the G20 presidency in the country.

He said Indonesia was ranked 16^th on the global list of the countries with the largest economy in the G20.

Read: BI Projects 5.5 Percent Economic Growth by 2022

ANTARA