Jakarta (VNA) - The Indonesian government had spent around 45.9 billion USD, or 23.6 percent of the total spending in 2021 for economic recovery, according to Finance Minister Sri Mulyani Indrawati.
The handling of COVID-19, for which large amounts of money had been funneled, had finally succeeded in boosting Indonesia's economic growth in 2021 after having contracted 2.07 percent in 2020 she said during an event of the G20 Presidency on February 16.
The minister said the Indonesian economy grew 3.65 percent in 2021. The recoveries have been happening in all aspects of the economy, in terms of production, supply and demand, as well as exports, which were strongly driven by the global recovery.
Strong growth also occurred in some very important sectors, such as manufacturing, trade, and mining, owing to rising commodity prices. Indonesia's economic output has also exceeded the pre-pandemic levels.
The minister stressed that these positive developments had made Indonesia one of the developing countries with a fast recovery, even higher than post 1997-1998 financial crisis. However, she said that the government will continue to apply policies effectively, as the recovery process is still ongoing and will continue to need fiscal support./.
See more
Indonesia vows to develop Nusantara into ‘political capital city’ by 2028
The Indonesian government has committed to developing Nusantara city in East Kalimantan into a complete political capital by 2028, one year before President Prabowo Subianto's term ends.
Thailand to cooperate with neighbours in solving PM2.5 haze pollution
Thailand and its neighbouring countries must work together to address the problem of PM2.5 haze pollution, Thai Deputy Prime Minister Phumtham Wechayachai said on January 23.
Thailand ramps up anti-graft efforts
Thailand will enhance anti-corruption measures to encourage greater social participation in overseeing the activities of governmental agencies.
Indonesia calls on Boeing to build component factory
Indonesia has urged the US aircraft manufacturing company Boeing to build an aircraft component production facility in the Southeast Asian country.
Indonesia aims to put airports on global top 10 list
Indonesia is aiming to ensure airports will get included in the list of top 10 airports in the world by 2029.
Indonesia accelerates nuclear power plant development
Indonesia’s Ministry of Energy and Mineral Resources is seeking to hasten the development of nuclear power plants in the country.
Thailand uses dry ice to tackle air pollution
Thailand's government on January 24 deployed small aircrafts to spray white mist over the dense smog blanketing Bangkok in an effort to alleviate the city’s stifling air pollution.
Singapore loosens monetary policy for first time in five years
The Monetary Authority of Singapore will "reduce slightly the slope" of the dollar trading band, which it said will ensure medium-term price stability.
Indonesian President praises cabinet’s achievements in first 100 days
Indonesian President Prabowo Subianto appreciated achievements made in the first 100 days of his presidency at the first cabinet meeting in Jakarta on January 22.
Indonesia reports decline in online gambling transactions
The Ministry of Communication and Digital Affairs has reported a continued decline in online gambling transactions in 2024, indicating that the government's efforts to combat online gambling have been effective.
Thailand: over 100 schools close over air pollution
Over 100 schools in Thailand's Bangkok city have suspended in-person classes and shifted to online learning due to severe air pollution affecting the capital and over 60 provinces nationwide.
Indonesia's Bali targets 17 million tourist arrivals in 2025
To attract foreign tourists, the Bali Tourism Office has launched the 2025 Calendar of Events, featuring as many as 54 events.
Indonesia aims to produce EV batteries meeting global standards
Indonesia can produce battery materials using green energy while still paying attention to carbon emissions.
Thailand sees higher-than-predicted exports in December
The Thai Ministry of Commerce is maintaining its export growth target of 2–3% for 2025.
RoK to seek closer ties with ASEAN
The Republic of Korea (RoK) will make efforts to expand economic exchanges and cooperation with Southeast Asian countries to address anticipated changes in the global trade environment after the new US administration signaled plans to implement protectionist measures, according to its Ministry of Trade, Industry and Energy.
Google fined 12.5 million USD for unfair business practices in Indonesia
Indonesia's antitrust agency, KPPU, announced on January 22 that it has imposed a fine of 202.5 billion IDR (12.5 million USD) on Google for abusing its dominant market position to force local app developers to use its payment system services for the Google Play Store.
Indonesia sets ambitious goal to reach 20,000 USD per capita income
The Indonesian Chamber of Commerce and Industry (Kadin) highlights the crucial role of downstream industries in driving Indonesia's economic transformation, aiming to position the country as a high-income nation with a per capita income of 20,000 USD.
Indonesia to spend about 2.98 billion USD for 2nd phase of IKN development project
The Indonesian Government has approved a budget of 48.8 trillion IDR (around 2.99 billion USD) for the second phase of the development of Indonesia's new capital Nusantara (IKN) from 2025 to 2029.
Thailand takes big step towards halting degradation of soil
A Memorandum of Understanding (MoU) to tackle soil degradation in Thailand was signed recently as 33% of the country’s soil has been degraded, The Nation reported on January 22.
Indonesia approves budget for new capital’s next development phase
The Indonesian government has allocated 48.8 trillion IDR (2.99 billion USD) for the second phase of developing Nusantara, Indonesia's new capital, for the 2025-2029 period. This represents a notable decrease from the 89 trillion IDR set aside for the first phase in 2022-2024.