Circular economy can increase state GDP

Minister Airlangga Hartarto has stated that application of the circular economy can be immensely beneficial to the national economy

Coordinating Economic Affairs Minister Airlangga Hartarto has stated that application of the circular economy can be immensely beneficial to the national economy, including the gross domestic product (GDP). “The potential of the circular economy is huge. In Indonesia, implementation of the circular economy approach has the potential to generate additional GDP of Rp593-638 trillion,” Hartarto stated in a seminar, part of the second G20 Sherpa meeting hosted in Labuan Bajo.

Circular economy is a system that utilizes some strategies that encompass innovative designs, renewables, improving and recycling trash in the supply chain to maintaining the product component value and materials for the long-term. Apart from generating additional GDP, the circular economy could assist Indonesia in pushing down waste generation by 18-52 percent as compared to business as usual in each sector, reducing CO2 emissions by 126 million tons, as well as cutting water usage by 6.3 billion cubic meters.

Source: https://en.antaranews.com/news/239085/circular-economy-can-increase-state-gdp-minister