Good News From Sri Mulyani, Indonesia's GDP Potential To Increase By 533 Million US Dollars During The G20 Presidency

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani claims that Indonesia's gross domestic product (GDP) has the opportunity to grow to US$ 533 million next year during the G20 Presidency.

Not only that, the Minister of Finance also said that domestic consumption is believed to increase by 190.2 million US dollars in 2022.

In addition, another positive implication of holding the G20 meeting in Indonesia is the creation of jobs. Through efforts to continue to manage COVID-19, he hopes that most of the meetings will be face-to-face or physical.

“We will hold around 150 meetings and side events that will take place in various cities in Indonesia. So we hope that 33,000 jobs will be created from various sectors from this activity alone," he said as reported by the official website, Thursday, November 11.

The Minister of Finance added that by holding the Chair of the G20, this could be an opportunity for Indonesia to show Indonesia's improving economic performance and structural reforms that have been carried out.

"Through the passing of Law No. 11 of 2020 concerning Job Creation, we have also passed tax reform, and we are currently discussing the fiscal relationship between the central and regional governments which will make coordination better. These are some very critical reforms that are expected to continue to build a stronger and better foundation for Indonesia's economic recovery," he said.

Meanwhile, on the climate agenda, the Minister of Finance hopes to provide follow-up guidelines on sustainable finance that is currently being developed, including how to utilize international financing.

Furthermore, this state treasurer also mentioned about international taxation that will be achieved following the success of multilateralism in responding to global challenges.

"We hope that during the Indonesian presidency, there will be an agreement on the guiding principles of the international taxation system to achieve fair, simple and equitable taxation, both for developed and developing countries," closed the Minister of Finance Sri Mulyani.