MSMEs contribute over 61% of Indonesia’s GDP

Indonesian Coordinating Minister for Economic Affairs, Airlangga Hartarto (Photo: Antara)

Jakarta (VNA) - Micro, small, and medium enterprises (MSMEs) are supporting economic resilience of Indonesia, with their contribution to the country's gross domestic product (GDP) reaching 61.075 or 8,574 quadrillion IDR (562.3 billion USD) in 2021, said Indonesian Coordinating Minister for Economic Affairs, Airlangga Hartarto on October 3.

Speaking to the press, Airlangga said there were 64.19 million MSMEs in the country as of the end of 2021, operating in many business sectors. The Government has taken several measures to encourage their development, including through the implementation of Law No.11 of 2020 concerning Job Creation.

The Government is also providing financing with a ceiling of 373.17 trillion IDR in 2022. Next year, the ceiling will be increased to 470 trillion IDR./.