Coordinating Minister Airlangga: The G20 Presidency Will Boost Indonesia's Domestic Consumption To IDR 1.7 Trillion

Coordinating Minister for Economic Affairs, Airlangga Hartarto. (Photo: Doc. Coordinating Ministry for the Economy)

JAKARTA - Coordinating Minister for the Economy Airlangga Hartarto said that as the G20 presidency, Indonesia will receive benefits in three aspects, one of which is the economy. He said that the G20 summit in Indonesia would boost domestic consumption.

"With the G20 presidency, there are at least three major benefits that can be obtained by Indonesia, both in terms of economy, social development, and political benefits. From the economic aspect, some direct benefits are an increase in domestic consumption which is estimated to reach IDR 1.7 trillion", he said at a press conference virtually, Tuesday, September 14.

Not only that, said Airlangga, but the advantage from other economic aspects is the addition of Indonesia's gross domestic product (GDP) of up to IDR 7.47 trillion. In addition, the involvement of the workforce reaches 33 thousand people in various sectors.

"Because this (G20 Summit) meeting runs for about 150 meetings, for 1 year or for 12 months", he said.

With the estimation of the meeting agenda, Airlangga said, the achievement will be many times greater than the meeting with the IMF World Bank in Bali in 2018.

"It is expected that in aggregate it will reach one and a half times to twice the size of the IMF World Bank meeting in 2018", he explained.

In addition, said Airlangga, this opportunity is the right momentum for Indonesia to show its teeth related to structural reforms and socialization related to the Job Creation Law Number 11 of 2020.

"This will boost global investor confidence and will bring mutual benefits", he said.