Sri Mulyani: The 2024 State Budget Plays A Strategic Role In The New Government Transition

Minister of Finance Sri Mulyani (right) with President Joko Widodo (Photo: Doc. Antara)

JAKARTA After the ratification of the 2024 State Budget Bill into law, the Minister of Finance (Menkeu) Sri Mulyani stated that fiscal instruments are ready to face economic challenges from within and outside the country in a sustainable manner.

According to the Minister of Finance, this is because Indonesia's development agenda is still very large and the state budget is expected to be a tool for the fundamentals of the Indonesian economy through sustainable economic transformation.

"The year 2024 is the last year of President Jokowi and Vice President KH Ma'ruf Amin's term of service, the 2024 State Budget has an important role to play in completing strategic programs and providing a strong and sustainable foundation for the transformation of the government and the economy in a sustainable manner," he said at the Senayan Parliament Complex, Jakarta, Thursday, September 21.

The Minister of Finance explained that the government and the Indonesian House of Representatives agreed on the basic macro assumption in the 2024 State Budget, namely economic growth of 5.2 percent, controlled inflation of 2.8 percent, the rupiah exchange rate of Rp. 15,000 per US dollar.

Then, the 10-year SBN interest rate is 6.7 percent, the assumption that the Indonesian Crude Price (ICP) is agreed on 82 US dollars per barrel, oil lifting 635,000 barrels per day and gas lifting of 1,033,000 barrels of oil equivalent per day.

The 2024 State Revenue is planned at IDR 2,802.3 trillion, sourced from tax revenues of IDR 2,309.9 trillion and Non-Tax State Revenue (PNBP) of IDR 492 trillion. Optimization of state revenues is carried out while maintaining the sustainability of the business world and people's purchasing power and aspects of justice," he said.

Meanwhile, state expenditures in the 2024 State Budget are planned at IDR 3,325.1 trillion, allocated through central government spending of IDR 2,467.5 trillion and transfers to the regions (TKD) of IDR 857.6 trillion.

"The State Budget Deficit for Fiscal Year 2024 was determined and approved by the DPR at 2.29 percent of gross domestic product (GDP) or in nominal terms Rp522.8 trillion," he said.

Furthermore, the Minister of Finance said that investment financing next year is targeted at IDR 176.2 trillion to be carried out selectively and intensively.

"This includes providing PMN to BUMN and BLU with good governance to be able to run business and services efficiently and productively," he said.

Realizing the global dynamics that is still ongoing, the Minister of Finance ensures that the government will always be committed to maintaining the credibility and health of the 2024 State Budget so that it remains effective as a policy instrument and development.

APBN 2024 plays a strategic role in the transition of the new government. Hopefully, the leadership regeneration process at the national and regional levels can continue to run smoothly, conducively, give birth to trustworthy leadership and give confidence to continue Indonesia achieving the great ideals of Indonesia Emas 2045," closed the Minister of Finance Sri Mulyani.