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Tuesday, 30 May 2023 14:04

Inclusive Economy Will Reduce Unemployment Rate: Minister

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VOINews, Jakarta - The unemployment rate in 2024 will be reduced significantly, as the economy grows even more inclusive, Finance Minister Sri Mulyani Indrawati stated.

"On the topic of poverty and unemployment rate targets in 2024, we can say that the efforts to reduce the unemployment rate effectively will be made by accelerating growth of the inclusive economy," the minister noted at a meeting with the House of Representatives here on Tuesday.

At the meeting, Indrawati and the lawmakers discussed about macro economy and fiscal policies outlined in the 2024 draft state budget.

The minister stated that the government will undertake various efforts to establish sectors with multiplier effects, so as to create more job opportunities that will reduce the number of unemployed people.

Indrawati noted that one initiative to meet those goals include the development of basic infrastructures of some regions through labor-intensive programs. This would give rise to employment opportunities that can become a source of living for the people.

In the last two years, consistent declines in the national unemployment rate were recorded after a spike in 2020 due to the COVID-19 pandemic, she noted. She pointed out that the decline is in line with stronger economic growth.

The minister cited data from Statistics Indonesia released on May 5, 2023, that the national open unemployment rate declined by 0.38, to 5.45 percent in February 2023. In February 2022, the rate was recorded at 5.83 percent, Indrawati noted.

The minister also drew attention to a decline in the number of unemployed people. In February 2022, a total of 8.4 million unemployed people were recorded. The figure then decreased by 0.41 million, and in February 2023, some 7.99 million unemployed people were recorded.

She highlighted the government's confidence in more job opportunities that will follow with economic recovery.

The government targets to end extreme poverty as well as push down the rate of stunting prevalence to 14 percent by 2024 under their short-term efforts in eradicating poverty.

Other efforts include reducing the people's expenses, increasing people's income through empowerment programs, as well as addressing issues in places with extreme poverty, she stated.

The government will also formulate a policy to address stunting issues through intervention across 12 provinces where stunting cases are prevalent, she concluded.  (Antaranews)

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