Faktor Pertumbuhan Ekonomi Indonesia Melejit di Angka 7,07 Persen

Summary

In this interview, Airlangga Hartarto, Indonesia's Coordinating Minister for Economic Affairs, discusses the country's strong 7.0% economic growth in Q2 2021, driven by consumer spending and government support despite the challenges posed by the Delta variant of COVID-19. He explains how the government is working to maintain this growth with measures such as cash transfers, subsidies, and tax incentives. Hartarto also emphasizes the importance of vaccinations and health measures in ensuring recovery, aiming to stabilize the economy in Q3 and continue the momentum into Q4. The government's focus remains on protecting public health and supporting the economy.

Takeaways

• 😀 Indonesia's economy grew by 7% in Q2 2021, largely driven by household consumption and investment.
• 😀 The COVID-19 Delta variant surge in Q3 2021 prompted stricter mobility restrictions (PPKM), affecting the economy.
• 😀 The government aimed to reduce active COVID-19 cases below 200,000 in Q3 to support economic recovery.
• 😀 In Q4, the target was to restore economic performance to pre-pandemic levels, with a 3.7-4% growth goal for the year.
• 😀 Household consumption, which made up 3.7% of the GDP growth, was the largest contributor to economic expansion.
• 😀 Government support programs, including wage subsidies and food aid, were designed to support consumption and vulnerable groups.
• 😀 The government's approach combined health measures (vaccination) and economic stimulus to counter the effects of the pandemic.
• 😀 Sectoral support included tax breaks for the automotive industry and aid for small vendors, particularly during the pandemic's peak.
• 😀 By August 2021, the government planned to distribute 73 million vaccine doses, with priority given to first doses.
• 😀 Indonesia's health response included a significant budget for COVID-19 treatments, vaccine procurement, and hospital capacity.
• 😀 Despite challenges in Q3, the government was optimistic about economic recovery in Q4, aiming to revive the growth momentum.

Q & A

What was the growth rate of Indonesia's economy in the second quarter of 2021, and what factors contributed to this growth?

Indonesia's economy grew by 7% in the second quarter of 2021. This growth was largely driven by factors such as household consumption, investment, government spending, and exports. The significant reduction in active COVID-19 cases also allowed for increased mobility and economic activities during this period.

What measures did the government implement to maintain economic growth in the third quarter of 2021 despite the rise of the Delta variant of COVID-19?

The government implemented various measures such as the implementation of PPKM (Community Activity Restrictions) starting from emergency level to level 4. These restrictions aimed to reduce mobility and control the spread of the Delta variant. Additionally, the government targeted reducing active COVID-19 cases below 200,000 to help stabilize the economy.

How does the government plan to manage the potential slowdown in consumption in the third quarter of 2021?

The government plans to mitigate the impact on consumption by providing social assistance, including wage subsidies for 8.8 million workers with incomes below 3.5 million IDR per month. The government also plans to provide additional assistance for small businesses such as warteg (local eateries) and street vendors.

What role does household consumption play in Indonesia's economic growth, according to the government’s economic strategy?

Household consumption plays a crucial role in Indonesia's economic growth, contributing the highest share to the GDP growth rate. The government emphasizes the importance of maintaining consumer confidence and consumption levels, as every 1% growth can create approximately 500,000 jobs.

What are the key challenges facing the economy in the third quarter of 2021, and how does the government address them?

The main challenge facing the economy in the third quarter of 2021 is the increase in COVID-19 cases, which negatively impacts mobility and consumption. To address this, the government is focusing on reducing active cases, providing financial support to vulnerable sectors, and pushing for higher vaccination rates.

How does the government plan to maintain economic resilience despite the challenges posed by the pandemic?

The government plans to maintain economic resilience through targeted fiscal measures, such as increased government spending, tax incentives for specific sectors, and support for exports. These efforts are aimed at mitigating the negative effects on consumption and ensuring the stability of key sectors.

What is the government’s target for economic growth in the third and fourth quarters of 2021, and how does it plan to achieve it?

The government’s target for economic growth in the third quarter is to minimize the decline in growth, with the expectation of a rebound in the fourth quarter. The government aims to achieve this by controlling the spread of COVID-19, maintaining consumer confidence, and providing support to businesses and workers.

What impact did the government’s PPBNM (Luxury Goods Tax) exemption for the automotive sector have on the economy?

The PPBNM exemption for the automotive sector led to a significant boost in car sales during the second quarter of 2021. This was one of the contributing factors to the economic growth during that period. However, the government anticipates that the sector may face challenges once the PPBNM exemption ends.

How important is the vaccination program in the government's plan to recover the economy, and what progress has been made?

Vaccination is a critical part of the government's strategy to combat the pandemic and ensure economic recovery. The government aims to vaccinate as many people as possible, with a particular focus on ensuring widespread access to the second dose of the vaccine. By August 2021, 73 million vaccine doses were expected to be administered, with the target of achieving at least 60% vaccination in various regions.

What steps is the government taking to address the healthcare crisis during the pandemic, particularly regarding hospital capacity and medical supplies?

The government has allocated a substantial budget for healthcare, including the procurement of vaccines and medical supplies. It has also prepared 130,000 hospital beds for COVID-19 patients and has been closely monitoring the situation to ensure that medical needs are met. The budget for healthcare in 2021 is set at 214 trillion IDR to address the crisis effectively.