G20 Economic Benefits Twice As Big as IMF Annual Meetings

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The Coordinating Ministry for Economic Affairs predicts the economic benefits of the 2022 G20 Presidency for Indonesia to reach 1.5 to 2 times greater than the IMF World Bank Group Annual Meetings in 2018.

Haryo Limanseto, head of the Communications, Information Services and Trial Bureau, said a physical meeting in the G20 presidential series would boost domestic consumption. In addition, many MSMEs will be involved during the G20 Presidency.
“If the meeting is done physically, then there will be an increase in domestic consumption to Rp1.7 trillion,” Haryo said on the official website of the kemenkeu.go.id, quoted friday (14/1).

In addition, the physical meeting will also increase the national gross domestic product (GDP) to Rp7.4 trillion. Then, Haryo predicts there will be a labor absorption of 33 thousand in various sectors.

Furthermore, he explained another benefit of the G20 Presidency for Indonesia is branding in the international world.

“In the long run, Indonesia’s branding in the eyes of the world will increase confidence from other countries towards Indonesia and Indonesia can become the central stage in the world,” haryo said.

According to him, the G20 forum will also encourage investment from G20 members and international organizations in Indonesia. Then, the international event will also add insight to the community, especially the younger generation.
“Indonesia is a large country whose existence is very calculated by other countries, both in terms of economy, geographical location, and political attitudes. Of course this will foster its own pride, “explained Haryo.

Later, the G20 Presidency will discuss various things, such as financial lines and sherpas lines.

The sherpa line is incorporated from the engagement group represented by civil society organizations,so that the results of discussion of the sherpa line are not limited to top downinterests, but also open opportunities from various stakeholders.

“The working groups and engagement groups will work together to achieve the agendas of the sherpa track forum at the Indonesian G20 Presidency which will emphasize the importance of various access and community alignment in remote areas,” haryo explained.

In addition, the sherpa line will also focus on empowering MSMEs, such as encouraging the digitization of MSMEs, training in the framework of upskilling MSMEs, and encouraging various pro MSME policies.

“Thus the output of this forum can have an impact that can be felt by the community,” concluded Haryo.

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