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G20 Summit Momentum to Boost Economy in Indonesia

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By: Helmadias Putri )*

The implementation of the Group of Twenty Summit (G20 Summit) in Bali is highly awaited by the community. The implementation is expected to be a momentum to revive various fields in Indonesia, including the economy affected by the Covid-19 pandemic.

2022 looks like it will be history for Indonesia, because this year Indonesia has officially held the Presidency of the Group of Twenty (G20) with the theme “Recover Together, Recover Stronger”.

In organizing this event, Indonesia highlighted the importance of global policies to eliminate disparities, bridge gaps and increase sustainable economic productivity. The G20 Summit in 2022 will focus on a multifaceted response to Covid-19 from a global perspective.

In the G20 Sherpa Track which discusses non-financial economic issues, economic transformation is one of the priority issues identified by the G20 Development Working Group (DWG). Other issues include inclusive and sustainable development, resilience and multilateralism. To achieve economic transformation, a strong knowledge and innovation ecosystem plays an important role by using a knowledge-based economic approach.

To bring knowledge to the global policy agenda, the Think 20 (T20) engagement group brings together globally recognized think tanks and research institutions to develop research-based policy recommendations that are formally submitted to G20 leaders for consideration.

In order to achieve economic transformation and promote evidence-based policy making, T20 Indonesia, Katadata and the Knowledge Sector Initiative (KSI) organized a high-level webinar with the theme of the G20 Indonesia Presidency: Economic Transformation for Mutual Strengthening and Recovery.

Indonesia’s G20 presidency places Indonesia at the forefront of international focus and attention, especially with regard to economic and social policies. In this context, Australia is an important partner for Indonesia in achieving its efforts to promote a global collective commitment to accelerate an inclusive global economic recovery.

Opening the discussion, the Australian Ambassador to Indonesia, Penny Williams PSM, expressed his country’s support for the Indonesian G20 presidency. “Australia strongly supports the Indonesian Presidency at this year’s G20 to strengthen the global economy and ensure recovery after the Covid-19 pandemic, so that the SDGs can be achieved. Australia also welcomes Indonesia’s efforts to focus on tangible results and impact on its three main priorities, namely redefining the global health architecture, digitally based transformation and a more environmentally friendly and sustainable energy transition. As a close partner, Australia is ready to work with stakeholders in Indonesia to make the G20 agenda in Indonesia a success.

Meanwhile, the Deputy for Economic Affairs at the Ministry of National Development Planning/Bappenas, Amalia Adininggar Widyasanti, representing the Minister of National Development Planning/Bappenas, Suharso Monoarfa, said that it was time for Indonesia to rebuild better. Not satisfied with the economic recovery, but must encourage economic growth.

Amalua said, “We must redesign Indonesia’s economic transformation after the Covid-19, not only to return to the pre-crisis period, but to be better than before the crisis. This economic transformation is an important point for us to achieve the vision of Indonesia Gold 2045. Improving the quality of education, research, innovation, knowledge and evidence-based policies is important to increase competitiveness.

In the session, also present were Yose Rizal Damuri as Executive Director of CSIS and Director of SMERU and Host of Task Force 5 T20, Widjajanti Isdijodo who gave responses from T20 members regarding the direction of Indonesia’s G20, and explained the role of T20 in the G20 in issues of economic and policy transformation. inclusive social. Yose highlighted the biggest challenge, namely finding a common ground to move to get mechanisms and systems at the global level that can support the resolution of existing issues.

In addition, Yose also hopes that G2O will not only serve as a coumunique or a commitment, but also need to be encouraged for the formation and mobilization of actions in the recovery of the world economy. Meanwhile, Widjajanti conveyed the need for corrective steps towards economic recovery.

The G20 Summit must be a motor in the revival in various sectors, especially the economic sector which had slumped due to the Covid-19 Pandemic. So that there will be real actions that are beneficial for all countries that are members of the summit.

)* The author is a contributor to Pertiwi Institute

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