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.

People go shopping in Jakarta, Indonesia. (Photo: VNA)

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.

Source: VNA