Sri Mulyani Comments On The 2021 Economic Growth That Did Not Reach The Target, What Did She Say?

JAKARTA - Minister of Finance, Sri Mulyani, finally opened her voice regarding the report from the Central Statistics Agency (BPS) which reported that Indonesia's economic growth throughout 2021 was at the level of 3.69 percent.

"This figure is quite close to the projection/forecast of the Ministry of Finance delivered in early January 2022", she said via his personal Instagram page @smindrawati, Monday, February 7.

According to the Minister of Finance, the economic recovery strengthened in the fourth quarter of last year, supported by household consumption, investment, government consumption, and exports.

“All sectors, namely manufacturing, trade, construction, warehousing transport, mining, information/communication have all experienced improvements. This is a good development, by the economic recovery scenario", she said.

In detail, the state treasurer stated that growth in the fourth quarter of 2021 was 5.0 percent. Then household consumption rose 3.55 percent, government consumption 5.25 percent, investment 4.49 percent, exports 29.83 percent, and imports 29.6 percent.

Furthermore, the Minister of Finance also explained related to the challenges that will be faced by Indonesia for the 2022 period, including the increasing pandemic of Omicron variants, and an increasingly challenging global environment.

"(Issues such as) tapering of monetary policy in the US and Europe, rising interest rates and high inflation in developed countries, and rising geopolitical tensions create additional uncertainty", she said.

For this reason, the government will certainly use all economic instruments to strengthen economic stability and continue the recovery this year.

“The state budget will continue to be an important instrument in a flexible, responsive, and accountable economic recovery. The state budget will continue to be gradually consolidated to achieve three important goals: economic health, people's health, and the health of the state budget", she stressed.

For information, the government itself has set the 2021 economic growth rate to reach between 3.7 percent to 4.5 percent. This means that today's BPS release is in the range of the minimum threshold targeted by the government.