Minister of Finance Sri Mulyani Indrawati during the virtual G20 Side Event on Friday (17/6/2022). (ANTARA/Sanya/FR)
Bolstering women's financial inclusion will reduce the national poverty rate to enable Indonesia to achieve the zero-poverty target in 2024, Finance Minister Sri Mulyani Indrawati stated during the virtual G20 Side Event on Friday.
Improving gender equality and reducing the burden that women bear can boost growth of the global economy or global gross domestic product (GDP) up to US$13 trillion, she emphasized.
G20 is an international forum comprising 19 countries that work together to handle major issues. Indonesia is holding the presidency of the grouping this year.
According to data from the Indonesian Inclusive Finance National Council (DNKI), the rate of women finance account owners had risen to 62 percent in 2021 or equal to men.
However, women's financial inclusion in Indonesia is still relatively lower than men, as globally, the rate of women's financial inclusion is still seven points lower than men.
"In addition, currently, women constitute 53.13 percent of the workforce in Indonesia or more than men. This is quite significant, but 62 percent of the women work in the informal sector," she pointed out.
Related news: Gender equality can boost people's welfare: Finance Minister
Moreover, the significant impact of COVID-19 on women, if not handled, can reduce the global GDP to US$1 trillion in 2030.
However, several steps can be taken to improve gender equality that can lead to an increase in the global GDP, Indrawati noted.
These steps include investment in education, family planning, mothers' health, digital and financial inclusion, as well as reducing the workload of women workers, she remarked.
During the B20 Side event on Friday, Women's Empowerment and Child Protection Minister Bintang Puspayoga also highlighted efforts made by the government to empower women entrepreneurs.
The endeavors comprise business digitalization, financial literacy, and digital literacy.
Related news: Some 60 percent of Indonesia's GDP depends on women: minister
Related news: More women-run micro-businesses using internet than men-operated ones
Improving gender equality and reducing the burden that women bear can boost growth of the global economy or global gross domestic product (GDP) up to US$13 trillion, she emphasized.
G20 is an international forum comprising 19 countries that work together to handle major issues. Indonesia is holding the presidency of the grouping this year.
According to data from the Indonesian Inclusive Finance National Council (DNKI), the rate of women finance account owners had risen to 62 percent in 2021 or equal to men.
However, women's financial inclusion in Indonesia is still relatively lower than men, as globally, the rate of women's financial inclusion is still seven points lower than men.
"In addition, currently, women constitute 53.13 percent of the workforce in Indonesia or more than men. This is quite significant, but 62 percent of the women work in the informal sector," she pointed out.
Related news: Gender equality can boost people's welfare: Finance Minister
Moreover, the significant impact of COVID-19 on women, if not handled, can reduce the global GDP to US$1 trillion in 2030.
However, several steps can be taken to improve gender equality that can lead to an increase in the global GDP, Indrawati noted.
These steps include investment in education, family planning, mothers' health, digital and financial inclusion, as well as reducing the workload of women workers, she remarked.
During the B20 Side event on Friday, Women's Empowerment and Child Protection Minister Bintang Puspayoga also highlighted efforts made by the government to empower women entrepreneurs.
The endeavors comprise business digitalization, financial literacy, and digital literacy.
Related news: Some 60 percent of Indonesia's GDP depends on women: minister
Related news: More women-run micro-businesses using internet than men-operated ones
