Government Allocates IDR 108.8 Trillion For Food Security

Finance Minister Sri Mulyani and the ministers took a group photo together during the press conference of the RAPBN and the Financial Note for the 2024 Fiscal Year in Jakarta, Wednesday (16/8/2023). BETWEEN/Imatul Silfia.

JAKARTA - The government has allocated IDR 108.8 trillion for food security in the 2024 State Revenue and Expenditure Budget Draft (RAPBN).

"The 2024 food security budget is IDR 108.8 trillion. We see here that there is an increase of 7.8 percent in the food security budget that we allocate," Sri Mulyani said in a press conference on the RAPBN and Financial Notes for the 2024 Fiscal Year as reported by ANTARA, Wednesday, August 16. An increase of 7.8 percent in the race for food security budget was outlooked at the 2023 State Budget which amounted to Rp100.9 trillion.

Priority in the food security sector with a budget of Rp108.8 trillion is directed to increase food price availability, access, and stability.

This policy is carried out, among others, through increased domestic production; institutional strengthening, financing, and protecting farmers; acceleration of food infrastructure development and rehabilitation; development of the Food Estate (Food Production Center); and strengthening of national food reserves.

In detail, food security funds of IDR 108.8 trillion were channeled through central government spending of IDR 89.6 trillion and transfers to regions of IDR 19.2 trillion.

Central government spending is distributed for the construction of dams, reservoirs, and irrigation. In addition, it is also for the assistance of seeds, seeds, alsintan, and agricultural insurance.

Expenditures are also used to increase fertilizer subsidies and interest on government food reserves loans.

The expenditures distributed by transfer to the regions are used for the construction of agricultural roads, construction or rehabilitation of irrigation networks and water sources, as well as construction or rehabilitation of seed centers and facilities for fishery port infrastructure.

The State Treasurer said the State Budget would continue to be directed into instruments to transform the economy and support the improvement of people's welfare.