Coordinating Minister Airlangga is optimistic that all economic growth targets will be met in the fourth quarter

If the pandemic can be controlled and we hold it through the fourth quarter, government spending is expected to increase in the fourth quarter of 2021

Jakarta (ANTARA) – Coordinating Economy Minister Airlangga Hartarto said the government was optimistic that it could meet the overall economic growth target for 2021 in the fourth quarter.

“If the pandemic can be controlled and we maintain it through the fourth quarter, government spending is expected to increase in the fourth quarter of 2021,” Coordinating Minister Airlangga Airlangga said in an official statement received in Jakarta on Thursday.

Coordinating Minister Airlangga stated that economic growth, which grew by 3.51 percent (yoy) in the third quarter of 2021, shows that Indonesia’s economic recovery is continuing and amid a spike in positive COVID-19 cases in the third quarter of 2021 is resilient.

“In the third quarter of 2021, we slowed down with PPKM due to the high daily number of COVID-19 cases of up to 574,315 cases per day. Nevertheless, we can continue to grow positively, driven by exports that reached 29.16 percent (yoy) and imports of 30.1 percent (yoy), “said coordinating minister Airlangga.

Manufacturing grew above economic growth of 3.68 percent, mining 7 percent, healthcare 14 percent, and commerce still 9 percent.

Also read: Airlangga: Economic growth in the fourth quarter of 2021 must reach 6 percent

“We are helped a lot by Super cycle from soaring oil, CPO, nickel, copper, aluminum and rubber prices. Our exports are also supported by the prices of these raw materials, so that we can still survive at 3.5 percent, ”said Coordinating Minister Airlangga.

In addition, the consumer confidence index entered the optimistic phase in October 2021 or is 113.4, higher than 95.5 in September 2021. Retail sales have also risen to 5.2 and the PMI for manufacturing is already 57, 2.

“As for the facilities, the government will of course look into this by December for an assessment next year. The next six months are also a crucial time because the effects of the pandemic are still there,” said coordinator Airlangga.

From a banking perspective, the restructuring and processing of banking needs was extended to March 2023. The government has also decided to continue the National Economic Recovery Program in order to maintain purchasing power.

“In addition to the economic sector, vaccination is also being promoted and should reach 40 percent with the second dose. With this we also hope to be able to operate “gas and brakes” in a more balanced way, ”said Coordinating Minister Airlangga.

Also read: Airlangga: Controlled Pandemic Is Driving Indonesian Economy Third Quarter 2021

Reporter: Kuntum Khaira Riswan
Editor: Risbiani Fardaniah