Agreement at the G20 Summit Must Be Able to Drive Indonesia's Economic Transformation

President Joko Widodo in one of the series of G20 Summits in Bali. (Photo: Andry Winanto / VOI)

JAKARTA - An Economist and Executive Director of CORE Indonesia, Mohammad Faisal, hopes that the agreement produced at the G20 Summit in Bali, on November 15-16, will support Indonesia's efforts in economic transformation.

He hopes that the G20 Summit can produce agreements that support Indonesia's efforts to encourage the digital economy and industrial downstream.

"Then at the G20 Summit, the voices of developing countries, including Indonesia can be heard", Faisal said as reported by Antara, Monday, November 14.

He said the series of activities of the G20 Indonesia for this one year, ranging from side events to group meetings succeeded in encouraging the national economy, especially in the tourism, transportation, and industrial sectors.

This includes encouraging the economic growth of Bali Province as the host of the G20 Summit, which in the previous two years was sluggish due to the COVID-19 pandemic, which was accompanied by a decline in foreign tourist visits to the region.

"There are additional economic drivers for Indonesia. There are visits made, encouraging certain sectors, from transportation, business, tourism to industry, including food and drinks to souvenirs, especially in Bali as the host", said Faisal.

On this occasion, he emphasized that the agreement produced at the G20 summit later, must provide a solution to the current global economic uncertainty situation, and the agreement can be used to deal with the threat of a global recession in 2023 next year.

"What should be maximized is a more long-term benefit, namely the result of the G20 agreement that has an impact on the National Economic Recovery (PEN), not just a matter of cooperation in fields such as taxation and financing for developing and underdeveloped countries", said Faisal.

As is known, President Joko Widodo has confirmed that the peak event of the G20 Summit in Bali will be attended by 17 heads of state/government and 3,443 delegates from various countries.