The Economic Benefits Of Indonesia's G20 Presidency Are Higher Than The IMF-World Bank Meeting In SBY's Era

Coordinating Minister for Economic Affairs, Airlangga Hartarto. (Photo: Doc. Antara)

JAKARTA - Coordinating Minister for the Economy Airlangga Hartarto said that the Indonesian Presidency in the G20 brought its own blessings from an economic perspective.

According to him, the event and a number of meeting agendas that will be held domestically next year are of higher value than similar events a few years ago, more precisely during the era of President Susilo Bambang Yudhoyono (SBY).

"The benefits of organizing the G20 are more than double that of the IMF and World Bank annual meetings in 2018," he said when giving a speech at the Indonesian G20 Presidency Kick Off event on Wednesday, December 1.

In detail, Airlangga explained that the chairmanship of Indonesia in the organization of the 20 largest economies in the world could increase the national gross domestic product (GDP) up to Rp7.4 trillion.

"With more than 150 meetings to be held in 19 cities, more than 18,000 delegates from various countries will attend. The Indonesian presidency will help create around 33,000 jobs, increasing domestic consumption by Rp1.7 trillion," he said.

Furthermore, Airlangga revealed that the mandate carried was not kidding. The reason is, the architecture of the world economy is determined by the 20 countries that are in this organization. Moreover, Indonesia is believed to be the captain for the next 12 months.

"Indonesia has the noble task of bringing the world to a better, more sustainable, more peaceful, and mutually beneficial direction. Indonesia is restoring the world, we must also be able to recover together to be strong. Recover Together, Recover Stronger," he stressed.

Just so you know, Indonesia became the first developing country to hold the G20 Presidency. Meanwhile, the G20 countries are Australia, Argentina, Brazil, Canada, China, European Union, Germany, France, India, Indonesia, Italy, Japan, Mexico. Then, Saudi Arabia, Russia, South Africa, South Korea, Turkey, Britain, and the United States.

To note, the G20 contributes to 85 percent of the world's GDP, 75 percent of international trade, 80 percent of world investment, and two thirds of the total global population.