Sri Mulyani: The State Budget's Hard Work To Protect The Community And The Economy

Minister of Finance Sri Mulyani (Photo: Capture the screen of the Ministry of Finance's Youtube)

JAKARTA Minister of Finance (Menkeu) Sri Mulyani stated that in the midst of the risk of global environmental volatility, the national economy was able to continue a stronger recovery. According to her, this achievement cannot be separated from the fiscal policy implemented by the government.

This was conveyed by the state treasurer to the media crew when holding a press conference on the realization of the 2022 State Budget in Jakarta, Tuesday, January 3.

"The hard work of the APBN for the last three years has succeeded in protecting the community and the economy and has proven to be strong in dealing with various shocks and threats of uncertainty," he said on Tuesday, January 3.

The Minister of Finance explained that the government continues to optimize the role of the state budget as a shock absorber in reducing global economic turmoil. He said, the implementation of the 2022 State Budget recorded positive performance in line with the improving domestic economy, and the increasingly controlled COVID-19 pandemic.

The Minister of Finance added that fiscal instruments will certainly continue to support the achievement of development targets, reduce the impact of global economic turmoil, and maintain the level of community welfare.

"Good APBN performance in 2022 and the momentum of continued economic growth are expected to be a strong capital for the APBN in carrying out its functions amidst economic uncertainty in 2023," he stressed.

The moncer performance of fiscal instruments is reflected in the state revenue report in the 2022 (unaudited) State Budget reaching IDR 2,626.4 trillion. This number managed to penetrate 115.9 percent of the target of IDR 2,266.2 trillion according to Presidential Decree 98/2022.

For this score, the 2022 State Budget deficit was successfully reduced to IDR 464.3 trillion or equivalent to 2.38 percent of gross domestic product (GDP). Previously, the budget deficit was estimated to reach IDR 840.2 trillion or 4.5 percent of GDP.

Just so you know, in the last three years the APBN has worked extra hard with a deficit widening above 3 percent. As for 2023, the state budget has been restored with the deficit returning to its normal level below 3 percent.