Indonesia's economic recovery is moving in the right direction since economic growth has reached 7.07 percent in the second quarter of this year, State-owned Enterprises (SOE) Minister Erick Thohir has stated. "This growth shows that the direction of the economic growth is on the right track," Thohir said in an online dialogue here Friday.
He argued that it is not just relying on the state budget but is also supported by the movement and synergy of other economic growth machines that display real results (in the form of) household consumption at 5.9 percent, investment at 7.5 percent, and export at 31.8 percent, he said.
However, the minister warned all parties and the public to still be aware since COVID-19's Delta variant has a high infection rate, in addition to virus mutations that could quickly give birth to new variants.
"Because of this, the disruption to the economic sector that happens throughout COVID-19 pandemic continues to this day," he asserted.
To this end, he urged everyone to always comply with the health protocol, vaccinate, and intensify testing, tracing, and treatment measures.
Indonesia had officially broken free from economic recession as the nation's growth at the second quarter of 2021 has reached 7.07 percent (yoy), Head of Statistics Indonesia (BPS) Margo Yuwono mentioned earlier.
Technically, a nation can be said to enter a recession once its economic growth experiences a contraction for at least two consecutive quarters, Yuwono explained.
Indonesia went into a recession from the third quarter of 2020 as it experienced negative growth from the second quarter of 2020 until the first quarter of 2021 with -5.34 percent, -3.49 percent, -2.19 percent and -0.74 percent respectively.
