Sri Mulyani Cs Went To Jokowi's Last State Budget Bahas Palace

Minister of Finance Sri Mulyani (Photo: Capture Youtube screen of the Presidential Secretariat)

JAKARTA Minister of Finance (Menkeu) Sri Mulyani today attended a limited meeting (ratas) with President Joko Widodo (Jokowi) and a number of other ministers regarding the discussion of the 2024 State Revenue and Expenditure Budget (APBN) or the last APBN during the Jokowi 2019-2024 administration.

The Minister of Finance said that the APBN cycle began with the discussion of the direction of Indonesia's macro policy and fiscal policy for next year.

"Today in a limited cabinet meeting, the President has scheduled a very early discussion for the macroeconomic framework and the main points of fiscal policy for the preparation of the 2024 State Budget," he said at the Merdeka Palace in Jakarta on Monday, February 20.

According to the Minister of Finance, this process will be further finalized by consulting with the DPR regarding the provisions of the state budget which will be used in the next period.

First, we discussed the global environment which has changed very extraordinaryly. For 2023 and 2024, the challenge that occurs is increasing geopolitical tension. Then the second is that world inflation is still very high. This causes an increase in global interest rates," he said.

Third, continued the Minister of Finance, the reopening of China's economy after the easing of the country's zero covid policy.

"This raises various possibilities and challenges that we must anticipate," he said.

The Minister of Finance added that for next year the government will try to maintain the momentum of economic growth which has now reached a fairly high level.

"In order for good Indonesia's economic growth in 2022 of 5.3 percent can be maintained for the following years. As a consequence of this, household consumption must continue to grow above 5 percent, inflation is controlled, and consumer confidence is maintained," he said.

In addition, the state treasurer said that the investment sector received its own attention because it was one of the important contributors to the national economy.

"We also need to anticipate global conditions in the form of exports where goods experience disruption due to geopolitical and commodity prices which may still be in uncertainty due to political competition between developed countries," he said.

For information, in the 2023 State Budget, the government has budgeted for state expenditures of IDR 3,061.2 trillion.

This figure consists of ministry/institutional expenditures (K/L) of IDR 1,000.8 trillion, non-K/L expenditures of IDR 1,245.6 trillion, and Transfers to Regions (TKD) of IDR 814.7 trillion.

Meanwhile, state revenue is targeted at IDR 2,463.0 trillion, consisting of tax revenues of IDR 1,718 trillion, customs and excise of IDR 303.2 trillion. Then, non-tax state revenue (PNBP) of IDR 441.4 trillion, and grants of IDR 400 billion.

Due to this posture, this year's APBN deficit is IDR 598.2 trillion or equivalent to 2.84 percent of gross domestic product (GDP).