VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

The Indonesian economy is expected to grow in the range of minus 2 percent to positive 0.6 percent in the fourth quarter of this year, Coordinating Minister for Economic Affairs, Airlangga Hartarto, said.

The projected growth could be achieved if the momentum for recovery that began in the third quarter, when the economy showed a smaller contraction of 3.49 percent compared to 5.32 percent in the second quarter, is maintained, Airlangga stated.

"This shows a quarter to quarter growth of 5.05 percent. If we can maintain this momentum, the growth in the fourth quarter is estimated to be minus 2 percent to positive 0.6 percent,” he said at the 2020 Bisnis Indonesia Award event in Jakarta on Monday.

Economic growth data for the second and third quarter have shown that Indonesia has begun to bounce back after hitting rock bottom, so the chance for recovery needs to be maintained, he stressed.

Indonesia has an opportunity for economic recovery and positive growth of 0.6 percent given the increase in domestic demand and consumer confidence, as reflected in increased household consumption, the minister explained.

"Economic improvement in developed and developing countries related to the Purchasing Managers Index (PMI) (shows) manufacturing in various countries has started to be positive, and in Indonesia it has also reached 50.6," he said.

Not only that, the inflation rate that was maintained at the level of 1.59 percent (yoy) in November could also be a driving force for better growth in the fourth quarter, he added.

Several other sectors are also likely to contribute to positive growth, such as agriculture, plantations, education, information and telecommunications, health, and social activities, he said.

"In addition, the manufacturing, trade and consumption industries, which have a big contribution to GDP, (are) also experiencing positive (growth),” he noted.

Meanwhile, in the financial market, despite a decline, the JCI (Jakarta Composite Index) indicator has returned to its pre-COVID-19 level of 5,900, and the rupiah exchange rate has strengthened again by Rp14,100, Hartarto observed.

"We see that the flow of capital has returned to Indonesia, and of course, this is a confidence that continues to be encouraged and shows real sector activity (is likely) to boost economic growth in 2021," the minister said.

Furthermore, from an external perspective, it shows that a positive trade balance will continue in 2020, he added. The trade surplus stood at US$3.61 billion in October, and was recorded at US$17.07 billion for the January-October period.

"It shows the resilience of our external sector, and we encourage optimism with our foreign exchange reserves of US$130 billion, showing that our financial sector has the same resilience," Hartarto remarked.

Therefore, he said, he is optimistic that 2021 would serve as an opportunity for the national economy to manage a full recovery due to increasing economic activity.

“(With) The health protocol that we continue to maintain, the government believes that 2021 will be a year of recovery. (It is expected to be) A year that provides opportunities for the national economy so that our national economy can move,” he said. (antaranews)

Drug and Food Control Agency (BPOM) awaits clinical test results for the COVID-19 vaccine and data from China's Sinovac Biotech before issuing vaccine authorization, COVID-19 Handling, and National Economic Recovery Working Committee Chairperson Airlangga Hartarto stated.

"We are optimistic of the BPOM soon issuing the emergency user authorization, and now, it still awaits data from Sinovac and the result of clinical trial conducted in Bandung (West Java) and Brazil scheduled for completion on December 15," Hartarto, concurrently the coordinating minister for economic affairs, noted on the sidelines of the Bisnis Indonesia Award 2020 here on Monday.

Hartarto remarked that the availability of 1.2 million doses of the COVID-19 vaccine was expected to emerge as a game-changer to cut the spread of the coronavirus disease (COVID-19) and encourage economic recovery.

"Indonesia has continued to boost economic recovery by maintaining a balance between COVID-19 handling and economic recovery," he remarked.

The coordinating minister for economic affairs expressed the belief that the vaccine will additionally increase public confidence to resume activities and drive full economic recovery.

The COVID-19 recovery rate in Indonesia has reached 82.21 percent as of now, higher than the global average, indicating that pandemic handling in the country has run on the right path.

Hartarto believed that the country would be able to realize full economic recovery in 2021 if it were to strike a balance between 3T or testing, tracing, and treatment and 3M, or wearing a mask, washing hands, and physical distancing.

"We have to continue to adhere to health protocols. The government believes that 2021 will become a year for recovery. The year of opportunity for the national economy to move," he affirmed.

In 2021, Indonesia will receive 1.8 million doses of the COVID-19 vaccine ready for administering, while in December 2020, another 15 million doses of the vaccine will arrive in the form of raw materials to be further processed by state-run vaccine manufacturer Bio Farma for production. (antaranews)

The government is likely to bear half the COVID-19 vaccination cost and charge the remaining 50 percent from the public, Coordinating Minister for Human Development and Culture, Muhadjir Effendy, said.

"This is still tentative. It is likely to be 50:50," he said here on Monday.

The government is in the process of assessing how much of the vaccine cost it will bear and has yet to decide on it, he informed.

"There has just been a meeting with the President to evaluate how much is to be borne by the government and how much is to be charged from the public," he added.

Instead of 107 million doses projected earlier, 182 million doses of the COVID-19 vaccine will now be made available to the public, he revealed.

President Joko Widodo has instructed that medical workers and non-medical workers, who have been at the forefront of the battle against COVID-19, will be prioritized for vaccination, he said.

"In addition, the vaccination will also be prioritized to those spearheading the economic recovery (efforts),” he stated.

This means that the government will give priority to traders, shopkeepers, employees, and small and medium-scale entrepreneurs, he explained.

Indonesia needs 350 million vaccine doses since each citizen would need to be administered two shots of the COVID-19 vaccine, chairman of the People's Consultative Assembly (MPR), Bambang Soesatyo, said recently.

"The government's success to receive 270 million doses of vaccine from several countries to meet domestic needs is worthy of praise. However, with the Indonesian population of 268.5 million, of which, 70 percent must be vaccinated, the real minimum requirement for the COVID-19 vaccine will be 350 million doses," Soesatyo noted in a statement.

The MPR supports the government's endeavors to address the shortage of COVID-19 vaccines, he affirmed.

It would not be easy to meet the real minimum requirement for COVID-19 vaccines since all countries must compete with one another to get the much sought-after doses, he pointed out.

"With the global population of 7.8 billion, the world needs more than 15 billion doses of COVID-19 vaccine, while the global production capacity is projected to reach 8.4 billion doses," he stated.

Nearly three billion doses of the total production capacity have been ordered by developed nations, so the Indonesian government must strive to obtain additional vaccines to meet its target, he stressed. (Antaranews)

Maluku Province, and eastern Indonesia in general, has a lot of potential for greater trade and investment with Europe that has not been explored.

The successful completion of the Comprehensive Economic Partnership Agreement (CEPA), currently being negotiated by the European Union and Indonesia, will boost trade and facilitate investment for both parties.

This was said by the Ambassador of the European Union to Indonesia Vincent Piket, in the virtual meeting "IEU CEPA Virtual Roadshow to Maluku", Monday (14/12).

Piket said that the European Union saw the potential for investment in fisheries and spices in Maluku.

"Europe will buy a lot of fish around the globe and will look for quality, it will look for diversity, and that is something that we can work on also with Maluku. So I think the investment potential for the fish industry, for the fish processing industry, is I think a very good option, "he said.

"Secondly, spices are the same, Europe has no spices so we will have to find them elsewhere and Maluku historically has been a major exporter, so it has good potential," Piket added.

Meanwhile, the Governor of Maluku, Murad Ismail who was present at the meeting, said that currently the Maluku provincial government, assisted by the central government, continues to strive to provide the infrastructure needed to support investors.

Maluku is ready to serve potential investors in accordance with applicable regulations. The European Union delegation has held a series of virtual roadshows to a number of major cities in Indonesia in collaboration with the Indonesian Ministry of Trade, the European Chamber of Commerce in Indonesia (EuroCham), and the Indonesian Chamber of Commerce and Industry (KADIN).

The roadshow aims to promote trade and investment, as well as the potential for the European Union Indonesia Comprehensive Economic Partnership Agreement (IEU-CEPA). (voi/nuke)