Deputy Minister Of Finance Suahasil Nazara: Downstream Industry Encourages Domestic Economy

Deputy Minister of Finance Suahasil Nazara when opening a Media Gathering event at the Ministry of Finance Office, Jakarta. (Photo: Doc. Antara)

Deputy Minister of Finance, Suahasil Nazara, said that the downstream industry program could encourage domestic economic growth in the future.

He asked all parties to work together in an effort to increase the downstream industry or produce finished goods in the country.

"Hilirization makes it a form of other goods with added value, we sell them. The price can be more expensive, and we can receive greater foreign exchange revenues," Suahasil said as quoted by Antara, Friday, October 4.

He conveyed that Indonesia's natural resource wealth (SDA) must be utilized optimally while still paying attention to environmental and community sustainability principles.

"The results of our mines, our produce, the results of our natural resources, as much as possible, if we can do downstreaming in the country," said Suahasil.

In addition, to encourage domestic economic growth, he said it could be done by increasing the production of goods containing domestic components, as well as increasing the use of these products in the country.

"If we use domestic production, or we use domestic production, where the local content is higher, the effect of multipliers in the country will be higher. The domestic economy will be large," he said.

As a policy maker, he said the government would direct the framework of the state budget (APBN) and the Regional Revenue and Expenditure Budget (APBD) to increase domestic goods production.

"The higher Domestic Component Level (TKDN) will create a large multiplier in the country," he said.

The government is asked to make various efforts to stabilize the national economy amidst global economic uncertainty due to tightening monetary policy and geopolitical conflicts.