JAKARTA - Indonesia Government aims to reduce the current account deficit (CAD) by producing more of value added products in the energy sector, such as batteries, and increasing biodiesel consumption (B30) in the years ahead.

The statement was a summary from the Coordinator Ministry Investment and Maritime Luhut Binsar Panjaitan at a speaking at the Ceremonial Event of Menara Syariah Groundbreaking in Jakarta last week. 

Panjaitan stated that Indonesia would take a step ahead in economy with the implementation of green energy products, such as lithium batteries. "We have made the other extraction from the ore and will eventually lead to lithium batteries and the recycling, and with this, I think, it will make Indonesia into a global supply change, which will greatly affect the decline in our current account deficit, as our export currently seems increasing with the export of stainless steel from Indonesia.," he said.

According to him, Indonesia has an increase in stainless steel export - one of value-added products. In 2021, Indonesia will be on second rank as an export country in the world with the value increasing constantly. The export of stainless steel has been increased since last year worth US$ 5.8 billion, this year, it is estimated to reach US$ 9 billion, and soon to be US$ 13.8 billion. (LK/W)