President Joko Widodo attends the G20 Summit in Turkey in November 2015. (Photo courtesy of the Presidential Press Bureau)

Indonesia to Benefit Economically from G20 Presidency: Minister

BY :JAYANTY NADA SHOFA

SEPTEMBER 14, 2021

Jakarta. Coordinating Minister for Economic Affairs Airlangga Hartarto is confident that Indonesia can reap economic benefits from its G20 presidency in 2022.

“We are expecting an increase in domestic consumption by up to Rp 1.7 trillion [$119.2 million]. [The G20 presidency] will also add Rp 7.47 trillion to our GDP and involve about 33,000 workers in various sectors,” Airlangga told a press conference on Tuesday.

Airlangga hoped the G20 presidency would foster economic effects that is twice larger than that of the International Monetary Fund and World Bank 2018 meeting in Indonesia. The minister gave such estimates, considering that about 150 meetings and side events would take place throughout next year.

The G20 presidency will also serve as a momentum for Indonesia to showcase its success in structural reforms, with the 2020 Law on Job Creation and the establishment of a sovereign wealth fund. 

“This will boost global investor’s confidence to accelerate economic recovery, and spur mutually beneficial global partnerships,” Airlangga said.

But the G20 presidency will not only bring economic benefits. According to Airlangga, Indonesia will take the opportunity to address Covid-19 vaccine production and distribution.

"We will continue to promote vaccines as global public goods. And also, its accessibility for the Indonesian people, as well as the low-income developing countries," Airlangga said.

Foreign Affairs Minister Retno Marsudi revealed promoting inclusivity would become among Indonesia's focuses during its G20 presidency.

"Indonesia will not only pay attention to the G20 members' interests, but also those of the developing countries and vulnerable communities," the diplomat told the same conference.

"This is indeed the DNA of Indonesia's foreign policies," she added.

Indonesia will assume the G20 presidency starting on December 1, 2021 to November 30, 2022. This marks the first time for Indonesia to hold the position.

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