RI Encourages The Establishment Of ASEAN Treasury Forum At The Meeting Of The Minister Of Finance And The Governor Of The Central Bank In Jakarta

Director General of Treasury of the Ministry of Finance Astera Primanto Bhakti. (Photo: Doc. Ministry of Finance)

JAKARTA - The second meeting of the ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM) raised the discourse on the formation of the ASEAN Treasury Forum (ATF).

It was stated that there were five main objectives to share the best practices in public financial management, capacity building and skills development related to treasury.

Then, encourage sustainable public finance, accelerate treasury digitization to encourage a slim government capable of doing more with less resources, and advancing the ASEAN economic community to support ASEAN's economic integration.

Director General of Treasury of the Ministry of Finance Astera Primanto Bhakti said the side event consisted of a high-level meeting between high-ranking ASEAN member countries treasury and seminars to discuss the latest issues about digitizing public financial management.

"Digitalization of public financial management in a sustainable manner is an important foundation in the Indonesian economy," he said as reported by the official website on Thursday, August 24.

According to Astera, the use of technology has the aim of increasing the usefulness of every money we spend. He said technology has a function to be a cushion in facing future crises.

"Technology also supports the creation of public finances that are transparent, accountable, responsible, and responsive to the needs of every citizen," he said.

Astera explained that the adoption of digital technology as the main component in efforts by public financial management has accelerated changes widely. Not only in Indonesia, but also at the ASEAN level.

"Central Asia is currently one of the centers of digital innovation, we can see from the rapidly increasing use of digital payments. In Indonesia, QRIS has become the standard of transactions," he said.

Astera added, if Indonesia also uses analytics data as a guide in making policies, monitoring expenses, identifying suspicious activities and transactions and optimizing budgeting allocations.

"We are currently entering an era of automation that will increase efficiency and save costs. Simultaneously, it is also important for us to improve digital security," he said.

The Indonesian government through the Ministry of Finance stated that to achieve good treasury management practices, ASEAN must carry out structured and coordinated efforts.

It is hoped that it will provide opportunities for member countries to learn from each other and gain support to improve trending models and practices.