This Is Jokowi's Last State Budget Draft At The Plenary Session Today

President Joko Widodo (Photo: Doc. Antara)

JAKARTA - President Joko Widodo (Jokowi) is scheduled to submit the 2024 State Revenue and Expenditure Budget Draft (RAPBN) along with the Financial Note at the MPR-DPR-DPD Plenary Session on Wednesday, August 16 at the Senayan Parliament Building, Jakarta.

On this occasion, the Head of State will present a fiscal policy plan next year as well as the last APBN for the Jokowi-Ma'ruf Amin government.

The certainty of the readiness to deliver the 2024 RAPBN was confirmed by the Head of the Fiscal Policy Agency (BKF) of the Ministry of Finance (Kemenkeu) when confirmed.

"We'll just have to wait for the President's speech on Wednesday," he told VOI at the Pancasila Building earlier this week.

Quoting the latest Ministry of Finance broadcast, the direction of the 2024 State Revenue and Expenditure Budget is focused on encouraging various transformations to make Indonesia a high income country.

"To be able to be separated from the middle income trap and become a high income country, Indonesia must be able to grow quite high," said Minister of Finance Sri Mulyani some time ago.

The following are a number of macro assumptions that have been agreed upon by the government together with the DPR's Budget Agency in a preliminary discussion on the RAPBN last month.

- Economic growth of 5.1-5.7 percent- Inflation rate 1.5-3.5 percent Rupiah Exchange Rate Rp 14,700-15,200 per US dollar- SBN Interest Rate 10 years 6.49-6.91 percent- Indonesian crude oil price assumption 75-80 US dollars per barrel-Oil lifting amounting to 615,000-640,000 barrels per day- Gas Lifting amounting to 1,030,000-1,036,000 barrels of oil equivalent per day

Fiscal posture in percent of gross domestic product/GDP

- State revenue 11.88-12.38 percent- Taxation 9.95-10.20 percent- PNBP 1.92-2.16 percent- Grant 0.01-0.02 percent- State expenditure 14.03-15.01 percent- Central government expenditure 10.49-11.36 percent- Transfer to 3.55-3.65 percent- Primary balance 0.0035-(0.428) percent- Deficit (2.16)-(2.64) percent- Financing 2.16-2.64 percent- Debt net 2.46-3.41 percent- Investment net (0.3)-(0.67) percent- Debt ratio 38.07-38.97