Sri Mulyani Claims Indonesia's Fiscal is Resistant to Global Shocks

Friday, 08 December 2023

Sri Mulyani Claims Indonesia's Fiscal is Resistant to Global Shocks

JAKARTA. Minister of Finance Sri Mulyani claims the fiscal policy made by the Indonesian government can reduce the threat of global and domestic turmoil or shocks.

This is because the country's fiscal policy is prepared carefully, flexibly, and with the right timing. Thus, the policies designed not only focus on economic stabilization but also maintain fiscal sustainability.

Furthermore, Sri Mulyani assessed that the challenge that will be faced by Indonesia and other countries in the world is global fragmentation consisting of increasing geopolitical tension.

According to her, Indonesia's current fiscal balance is relatively better than other countries, including developed and developing countries. 

"This is a foundation that must be maintained. Because various fluctuations can occur shortly or in the future," said Sri Mulyani, as quoted from the page.

However, Sri Mulyani emphasized the importance of designing fiscal policies that are not only ready to withstand shocks but also provide a good foundation in the long run.

Referring to the 2024 Financial Note document, Indonesia's short-term fiscal policy focuses on four things.

First, accelerating the elimination of extreme poverty by 2024. Second, accelerating the decline in the prevalence of stunting to 14 by 2024. Third, controlling inflation. Fourth, encouraging increased investment.

Meanwhile, medium-long-term fiscal policies include strengthening the quality of human resources, accelerating infrastructure development, encouraging high value-added economic activities, through downstream of natural resources, institutional reform, and simplification of regulations. Fifth, encouraging the green economy. 

Furthermore, to support the acceleration of economic transformation, it is necessary to carry out fiscal reform holistically by optimizing state revenues while maintaining the investment climate and the business world. Also, strengthening the quality of government spending that is efficient and focused on output-oriented priority programs. In addition, financing will be managed in an innovative, prudent, and sustainable manner. (ASP/KEN)


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