Sri Mulyani: Infrastructure Investment is Key to Economic Recovery
Monday, 05-July-2021 23:10
JAKARTA, NETRALNEWS.COM - Indonesian Minister of Finance Sri Mulyani Indrawati says investments in infrastructure hold the key to realizing global economic recovery, as also recognized in the renewal of the G20 Action Plan or G20 Action Plan in April 2021.
"The G20 reaffirms its commitment to redouble efforts to promote quality infrastructure investments and accelerate efforts to mobilize private financing sources as a recovery strategy," she said at the B20-G20 Dialogue in Jakarta, on Monday (07/05/2021).
Sri Mulyani said the COVID-19 pandemic had an impact on infrastructure development, considering the pressure on the fiscal space which made the government prioritize more crucial agendas such as saving the lower class through social security.
Not only that, Sri Mulyani said the private sector also refrained from investing in the infrastructure sector, and even canceled plans for many infrastructure projects due to the pandemic constraints.
Based on the 2021 World Bank report, private sector investment in infrastructure projects in developing countries in the first half of 2020 fell 56 percent from the same period in 2019.
Whereas according to Sri Mulyani, infrastructure investment can support growth in many developed and developing countries, while providing additional boost to global output through positive spillover effects.
Therefore, she ensures that Indonesia supports an infrastructure agenda that focuses on four pillars, namely resilience and maintenance, digital infrastructure, sustainable infrastructure, and social inclusion.
"We appreciate the work of the Italian Presidency in continuing to develop collaborations between public and private investors to mobilize private capital," Sri Mulyani added, as reported by Antara.
Reporter : turkhan
Editor : turkhan