Indonesia’s economy clocked 7.07 percent year-on-year growth in the second quarter of 2021, surpassing Vietnam and South Korea, Coordinating Minister for Economic Affairs, Airlangga Hartarto, has said.
This growth recorded in the second quarter is the highest Indonesia has achieved since the 2008 sub-prime mortgage crisis, Hartarto remarked at the HSBC Summit, accessed from here on Wednesday.
Indonesia’s economic growth in the second quarter of 2021 surpassed South Korea’s 5.9-percent growth and Vietnam’s 6.6-percent growth, he pointed out.
The coordinating minister attributed the government’s efforts towards stemming the spread of COVID-19 as the key factor in the acceleration of Indonesia’s economic recovery in the second quarter of 2021. “Indonesia’s economic growth is also driven by the growth of household consumption in the second quarter of 2021 that has reached 5.9 percent (yoy),” he added.
In addition, Hartarto highlighted that domestic demand has continued to rise since industrial activity has recovered with an increase in production capacity.
As a result, investment in the second quarter of 2021 has risen by 7.54 percent (yoy), he said.
In terms of external factors, global demand has played a role in accelerating the nation’s economic recovery, Hartarto opined. “Indonesia’s economic growth is also driven by the growth of household consumption in the second quarter of 2021 that has reached 5.9 percent (yoy),” he added.
In addition, Hartarto highlighted that domestic demand has continued to rise since industrial activity has recovered with an increase in production capacity.
As a result, investment in the second quarter of 2021 has risen by 7.54 percent (yoy), he said.
In terms of external factors, global demand has played a role in accelerating the nation’s economic recovery, Hartarto opined.
Source: Antara News