Here's The Direction Of Economic Transformation In The 2024 State Budget Bill

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA The government includes an economic transformation agenda in the big theme of the 2024 State Budget Bill. It is stated that economic transformation continues to encourage the development of new sources of growth.

"We will increase national economic participation in the global supply chain," said Deputy Minister of Finance (Wamenkeu) Suahasil Nazara during a working meeting with the DPR in Jakarta, Thursday, August 31.

According to him, the potential sectors to support this transformation agenda are downstream natural resources (minerals, and gas/oil and gas), the development of a battery-based electric vehicle ecosystem.

Then, the creation of a green economy through green energy and carbon trading, as well as an inclusive and sustainable digital economy.

"We will also strengthen domestic economic resilience through the processing of natural products, encourage the creation of environmentally friendly energy, tourism recovery, and the implementation of the P2SK Law in the financial sector," he said.

Suahasil explained that this step is expected to be a lever for economic growth and high productivity.

"The government wants the improvement of people's welfare to continue and also the resilience of our economy which has competitiveness," he stressed.

For information, the government targets economic growth this year to be in the range of 4.5 percent to 5.3 percent. Meanwhile, in the 2024 State Budget Bill, the growth target is expected to be perched at the level of 5.2 percent.

To note, next year's APBN is designed with state expenditures of IDR 3,304.1 trillion and revenues of IDR 2,781.3 trillion. This post makes a budget deficit of IDR 522.8 trillion or equivalent to 2.29 percent of Gross Domestic Product (GDP).