Indonesia Expat
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Finance Minister Sees Indicators for 2020 Economic Recovery

Finance Minister Sri Mulyani Indrawati has said that optimism for signs of economic recovery in 2020 is increasing, although the speed and strength vary. This is seen by several indicators showing improvement.

“Even though the conditions in 2020 are heavily influenced by COVID-19, we see signs of recovery in various ways,” said Sri Mulyani.

Sri Mulyani continued that the economic indicators that are starting to show recovery or reversal include electricity consumption, positive inflation, the people’s mobility index, as well as goods and social assistance spending that are soaring.

Overall, central government spending grew by almost 20 percent. On the export-import side, she said month-to-month developments have started to be positive.

Also, Read Indonesia Officially in Recession

In November, there were several indicators that illustrated the economic recovery was occurring and continuing. Then the Manufacturing Purchasing Manager’s Index (PMI) has begun to enter the positive zone, investment or PMTB contraction is beginning to decline.

She added that the optimism for economic recovery will increase with the development of vaccines that will be free to Indonesian citizens in 2021. However, this cannot replace the importance of maintaining health discipline because achieving herd immunity will still require a fairly long process from this vaccine.

Also, Read Making Investments in Indonesia Work for You

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