OJK Asks For An Increase In Operational Budget 35.5 Percent To IDR 731.52 Billion

JAKARTA - The Financial Services Authority (OJK) proposed an increase in the operating budget by 35.5 percent to IDR 731.52 billion in the 2023 Work Plan and Budget (RKA) compared to the 2022 operational budget of IDR 539.60 billion.

"This includes increasing the budget for strengthening supervision, improving regulatory quality, consumer protection, literacy and inclusion education, and law enforcement," Deputy Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mirza Adityaswara said at a joint Working Meeting with Commission XI DPR RI in Jakarta, quoted from Antara, Tuesday 29 November.

OJK has approved the Work Plan and Budget (RKA) in 2023 which reaches IDR 7.45 trillion according to projections of OJK revenues and levies in 2023.

The 2023 OJK RKA is prepared under the assumption of normal conditions, where the COVID-19 pandemic in Indonesia is under control, so business travel activities and face-to-face meetings related to the main duties and functions of the OJK can be carried out as usual.

In addition to operational activities, IDR 6.03 trillion from OJK's RKA in 2023 will be used for administrative activities, up 15.4 percent from 2022.

"This administrative activity includes an increase in the budget for employee development, organizational arrangement, the burden of information and technology infrastructure in the context of supervision, as well as the impact of taxation on all OJK activities," he said.

In the 2023 budget, asset activities increased 28.3 percent from 2022 which includes an increase in the budget for the construction of the northern regional office building 5 of North Sumatra, the construction of offices in the State Capital (IKN) of the Archipelago, and the procurement of IT assets and office leases.

"By taking into account the needs of the 2023 budget, the OJK does not propose a budget for other supporting activities," he added.