This Is The Big Draft Of The 2024 State Budget That Jokowi Reads During The Financial Note

JAKARTA - President Joko Widodo (Jokowi) revealed that the 2024 Draft State Budget (RAPBN) targets economic growth of 5.2 percent.

This amount tends to be conservative from the figure that was discussed in the preliminary draft RAPBN talks between the Ministry of Finance and the DPR's Budget Agency (Banggar), namely 5.1 percent.

"The 2024 economic growth is estimated at 5.2 percent," he said in the DPR Plenary Session today, Wednesday, August 16.

The President ensured that the government would continue to maintain macroeconomic stability in the country. It was stated that the implementation of next year's fiscal instruments cannot be separated from the democratic party event.

"We must create a conducive and peaceful situation in the 2024 General Election and Simultaneous Pilkada in order to increase short-term economic optimism. Implementation of the Law on the Harmonization of Tax Regulations, the Law on Central and Regional Financial Relations, and the Law on the Development and Strengthening of the Financial Sector will also provide positive benefits to structural strengthening," he said.

The head of state added that the government will also maintain inflation in a low range, namely 2.8 percent. VOI noted that this level is lower than the target in the 2023 State Budget which is 3 percent plus minus 1 percent.

"The role of the state budget will continue to be optimized to mitigate inflationary pressures, both due to climate change and external shocks. Strong coordination between members of the Central and Regional Inflation Control Team forums will continue to be maintained," said Jokowi.

The following is the grand draft of the 2024 state budget that the government submitted to the House of Representatives (DPR):

- Economic Growth of 5.3 percent

- Inflation 2.8 percent

- The rupiah exchange rate is IDR 15,000 per US dollar

- The interest rate on 10-year government securities is 6.7 percent

- The price of Indonesian crude oil (ICP) is 80 US dollars per barrel

- Lifting oil 625,000 barrels per day

- Lifting gas of 1.03 million barrels of oil equivalent per day

- State revenue of IDR 2,781.3 trillion

- State expenditure of IDR 3,304.1 trillion

- Budget deficit of 2.29 percent of GDP (equivalent to IDR 522.8 trillion)

- Open unemployment rate 5.0 percent to 5.7 percent

- The poverty rate is 6.5 percent to 7.5 percent

- Gini ratio 0.374 to 0.377

- Human Development Index 73.99 to 74.02

- Farmer Exchange Rate (NTP) 105-108

- Fishermen Exchange (NTN) 107-110.