Airlangga Reveals Realization Of The Capai Inflation Control Budget Of IDR 52.56 Trillion As Of May 2024

Coordinating Minister for the Economy Airlangga Hartarto. (Photo: Doc. ANTARA)

JAKARTA - The government has said that it has disbursed a budget for controlling inflation of IDR 52.56 trillion until May 2024.

Coordinating Minister for Economic Affairs Airlangga Hartarto said that the realization of the ministry/institutional budget (K/L) for inflation control reached IDR 39 trillion or 29 percent of the ceiling of IDR 124.16 trillion.

Furthermore, it comes from regional fiscals whose realization reached Rp13.56 trillion from a budget ceiling of Rp92.87 trillion.

Airlangga said, thanks to these control efforts, Indonesia's current inflation conditions are relatively better, as reflected in Indonesia's inflation in May, which was recorded at 2.84 percent (yoy).

This figure is better than the G20 countries.

"Inflation in May was recorded at 2.84 percent on an annual basis, and when compared to other countries the G20 was like Russia for example 7.84 percent, India 4.75 percent, Australia 3.6 percent, the United States 3.3 percent. So Indonesia is relatively better than these countries," said Airlangga at the 2024 National Coordination Meeting for Inflation Control at the Presidential Palace, Friday, June 14.

According to Airlangga, the controlled inflation also supports the performance of economic growth, which in the first quarter of 2024 was 5.11 percent.

He added that the continuity of domestic supply is the main key to maintaining food stability in all regions.

Airlangga explained that efforts were made to reduce inflation, including maintaining price affordability, supply availability, and smooth distribution, effective communication, especially to encourage the mix of monetary fiscal policies and the real sector so that inflation is maintained.

In stabilizing food prices, Airlangga said, when food prices were in increasing condition, in the short term the distribution of Food Supply Stabilization and Prices (SPHP) for food assistance for the cheap food movement was carried out.

According to him, this step has succeeded in reducing food prices which are soaring high, as well as increasing production by adding subsidized fertilizer allocations and access to financing for the agricultural sector.

Airlangga noted that the distribution of people's business loans (KUR) for the agricultural sector has reached 30 percent. Furthermore, another step is to ensure the smooth distribution, especially for 10 strategic food commodities by the National Food Agency (Bapanas) and optimize sea toll roads for remote and outermost disadvantaged areas.