Energy and Mineral Resources Minister: MSMEs are backbone of national economy

Jakarta – Energy and Mineral Resources Minister Bahlil Lahadalia described micro, small and medium enterprises (MSMEs) as the backbone of the national economy whilst opening the Ramadan Bazaar 1447 H at the Energy and Mineral Resources Ministry office in Jakarta. The bazaar was initiated by Dharma Wanita Persatuan (DWP), the ministry’s women’s welfare organisation, as a platform for promoting and selling MSME products.

“I appreciate and welcome this programme from DWP to share economic benefits. MSMEs are the backbone of our national economy,” Bahlil said in a statement on Tuesday.

The bazaar, which opened Monday morning, featured various MSME products including Ramadan speciality food and beverages, Eid cookies, Muslim fashion, handicrafts and household items.

According to Bahlil, the strategic role of MSMEs is reflected in their contribution to national economic growth and employment. “MSME contribution to gross domestic product stands at 60 per cent. Of our 132 million jobs, 120 million come from MSMEs. Of total entrepreneurs, 97 to 98 per cent are MSMEs, numbering 64 to 65 million,” he said.

Bahlil added that the MSME sector proved resilient when Indonesia faced the 1998–1999 economic crisis, emphasising that MSMEs play a vital role in safeguarding national economic resilience. “During Indonesia’s 1998–1999 economic crisis, inflation reached 83 per cent, the budget deficit was 13 per cent, foreign reserves dropped to just 17 billion US dollars – and it was MSMEs that sustained our national economy,” he noted.