Sri Mulyani Ensures Macroeconomic Framework Has Coordinated With New Government

Minister of Finance Sri Mulyani (Photo: dock. Antara)

Minister of Finance Sri Mulyani Indrawati ensured that the fiscal design and macro assumptions contained in the Macroeconomic Framework and Fiscal Policy Principles (KEM-PPKF) had been coordinated with the next government team, namely Prabowo Subianto and Gibran Rakabuming Raka.

"We continue to communicate with the team and the people appointed by Pak Prabowo, so that what we include can enter all aspirations so that the new government development programs and priorities can still run without having to wait a while," Sri Mulyani said quoting Antara.

The Minister of Finance today conveyed the KEM-PPKF for the 2025 fiscal year to the DPR through the Plenary Meeting.

This KEM-PPKF is a transitional design, in which the current government discusses with the DPR to be implemented by the upcoming government.

In the draft KEM-PPKF, the deficit in the State Revenue and Expenditure Budget (APBN) for the 2025 budget year is targeted to be in the range of 2.45-2.82 percent of Gross Domestic Product (GDP).

State revenue is pegged at around 12.14 percent to 12.36 percent of GDP. Meanwhile, state spending is estimated to be in the range of 14.59 percent to 15.18 percent of GDP.

The debt ratio will be controlled within managed limits in the range of 37.98 to 38.71 percent of GDP.

As for macro assumptions, the Ministry of Finance is aiming for economic growth in the range of 5.1 percent to 5.5 percent by 2025.

Meanwhile, the yield of the 10-year SBN Tenor is estimated to be in the range of 6.9 percent to 7.3 percent. The rupiah exchange rate against the US dollar is estimated to be in the range of Rp. 15,300.00-Rp. 16,000.00. Meanwhile, inflation is estimated to be controlled in the range of 1.5 percent to 3.5 percent.

The price of Indonesian crude oil is estimated at 75-85 US dollars per barrel; lifting of petroleum 580 thousand-601 thousand barrels per day; and lifting of gas 1,004-1,047 thousand barrels of oil equivalent per day.

These figures are still not final. The Minister of Finance explained that the KEM-PPKF draft would be responded to by members of the DPR faction and discussed with the Budget Agency (Banggar) by involving Bank Indonesia (BI), the National Development Planning Agency (Bappenas), and the Central Statistics Agency (BPS).