Sri Mulyani Reveals That The 2023 State Budget Is Able To Face Global Uncertainty

Minister of Finance Sri Mulyani Indrawati. (Photo: Doc. ANTARA)

Minister of Finance Sri Mulyani Indrawati expressed her gratitude to the members of the council for passing the Draft Law (RUU) on Accountability for the Implementation of the State Budget for Fiscal Year 2023 into Law (UU).

Because the implementation of the 2023 budget is important for Indonesia.

"We are grateful that the process of discussing the 2023 State Budget P2 Bill went smoothly while remaining focused on the various substances conveyed by all factions," he said in the 5th plenary meeting during the first trial of the 2024-2025 session, Tuesday, September 3.

Sri Mulyani said that the implementation of the 2023 fiscal year is very important because Indonesia has successfully faced various global dynamics, namely completing the stages of handling Covid-19 and preparing for the General Election or Simultaneous Elections in 2024.

In addition, he said, the 2023 State Budget was designed in mid-2022 to be discussed together with the House of Representatives (DPR) at a time when the development of international geopoliticals continued to be escalated, especially geopolitical conflicts in various regions, especially the war between Russia and Ukraine.

The geopolitical conflict has disrupted global supply chains, causing commodity price volatility and creating global high inflation. As a result, the high trend of central bank benchmark interest rate policy has re-emerged after the last 40 years.

"This has prompted a policy in the last 40 years in developed countries that has never happened, namely a drastic increase in the benchmark interest rate in the fast term. This step caused turmoil in the financial market, and in parts of developing countries it even experienced a crisis," he said.

Therefore, Sri Mulyani said that 2023 is a very important journey in the process of implementing the 2023 State Budget and is proof of the government in implementing the State Budget carefully, as well as effective implementation in maintaining the momentum of recovery and economic growth.

"The year 2023 is a very important year for Indonesian travel, especially in the implementation of the State Budget with various global and national dynamics which are very high," he said.