JAKARTA - Minister of Finance (Menkeu) Sri Mulyani explained that the direction of fiscal policy in the rest of this year will be applied with a conservative approach.
He conveyed this at a press conference on the Financial System Stability Committee (KSSK) together with the Governor of BI, the Chairman of the OJK, and also the Head of the LPS in Jakarta.
"In the midst of the dynamics of the global economy that is still overshadowed by uncertainty, the 2023 State Budget is designed to be very conservative but still provide adequate space to act as a shock absorber," he told reporters today, Monday, May 8.
According to the Minister of Finance, the revenue performance of the state budget is still on target even though it is faced with a trend of global commodity price moderation.
The government will still optimize the role of the State Budget as a damper of global turmoil to maintain the momentum of accelerating national economic growth.
"In order to overcome the turmoil in food prices in early 2023, various price control efforts continue to be carried out together with BI," he said.
Sri Mulyani added that the government is also expanding the social protection program.
He explained that the assistance provided was in the form of rice for 21.3 million Beneficiary Families (KPM).
In addition, to help the poor in meeting nutritional needs, especially protein, assistance is provided in the form of packages of chicken meat and eggs for 1.4 million KPM with stunting toddlers.
"The budget allocation of Rp. 8.2 trillion for food assistance will be distributed in March and May 2023," he said.
The state treasurer explained that the realization of state revenue during the first quarter of 2023 reached IDR 647.15 trillion or 26.2 percent of the APBN target and grew by 28.9 percent year on year (yoy).
In the same period, continued Sri Mulyani, the absorption of state spending reached Rp518.6 trillion. This figure is equivalent to 16.9 percent of the APBN ceiling.
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Meanwhile, the government's fiscal position is relatively strong. This is reflected in the surplus in the primary balance of IDR 228.7 trillion.
"In general, the APBN experienced a surplus of IDR 128.5 trillion, equivalent to 0.61 percent of gross domestic product (GDP) in March 2023," he concluded.
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