The Push For Bali's Economic Diversification Is Getting Stronger, This Time From Sri Mulyani

JAKARTA - The Minister of Finance (Menkeu) Sri Mulyani Indrawati considers that Bali Province needs to diversify its market in other sectors to support its economy, such as the agricultural sector, in line with the high demand in the world market for organic agricultural products.

According to the Minister of Finance, the COVID-19 pandemic has taught a lesson so that in the future Bali's economy should not only depend on the tourism sector.

“Bali has great potential with the subak system and land potential for organic farming as a potential for diversification. Through these various efforts, MSMEs can not only survive in a pandemic situation, but can even bounce back," he said as reported by the official website on Monday, January 17.

The Minister of Finance revealed that the government had provided various assistance from the APBN to MSMEs, such as through interest subsidy assistance, Ultra Micro (UMi) financing, and loan guarantees so that banks dared to provide loans to MSMEs in the midst of a pandemic.

"The government also provides special assistance, such as the Directorate General of Taxes and the Directorate General of Customs and Excise assisting MSMEs through technical units to penetrate the export market," he said.

The role of MSMEs and ultra-micro businesses, continued the Minister of Finance, has reached 64.2 million with a contribution of 61.07 percent to Indonesia's gross domestic product (GDP). In addition, MSMEs are able to absorb 97 percent of the total workforce and around 60 percent of the total investment in Indonesia.

For information, the Government Investment Center (PIP), which is the Public Service Agency (BLU) of the Ministry of Finance, is one of the institutions that supports the development of ultra-micro businesses in Indonesia. PIP participates in efforts to drive the economy in the micro and ultra micro sectors so that they can improve and develop.

"We hope that the various assistances provided by the government are able to support MSME players to continue to grow and expand to the global market," closed the Minister of Finance Sri Mulyani.