Deputy Minister Of Finance Thomas Reveals Taking Advantage Of Economic Opportunities Amid Global Geopolitical Dynamics

Deputy Minister of Finance II Thomas Djiwandono. (Photo: Doc. Ministry of Finance)

Deputy Minister of Finance (Wamenkeu) Thomas Djiwandono expressed Indonesia's commitment to strengthening the foundations of long-term growth and taking advantage of economic opportunities in the midst of global geopolitical dynamics.

This was conveyed by Thomas in the Eurasia Group Roundtable discussion which was attended by various global stakeholders in Washington DC

In addition, the discussion also highlighted the government's strategic steps to maintain continuity and accelerate new growth machines.

Thomas emphasized the importance of energy security, digitization, and downstreaming as the main foundation for sustainable economic growth.

"These three themes are the basis for real long-term growth, and that's when we need to see the growth machines," he said in his statement, Monday, October 28.

Thomas said that the Ministry of Finance is currently exploring various sectors that have the potential to be a source of new growth, which is not only limited to infrastructure and downstreaming, but also to the tourism and digitization sectors.

Furthermore, Thomas also highlighted that there was a policy continuity from the previous government, while explaining that President Prabowo's administration would expand its economic focus to other sectors.

"President Prabowo will expand it (new economic growth), the focus now is looking at other sectors," he explained.

Regarding the fiscal target, Thomas emphasized the government's commitment to maintain a budget deficit below the 3 percent limit, in accordance with applicable laws, where next year's budget is targeted with a deficit of 2.53 percent, and has been stipulated in the law.

In addition, Thomas said, the government is currently continuing to strive to create jobs for the young population in Indonesia and maintain economic stability through the development of new growth machines.

"We have to find ways and means to achieve it (support of the middle class). I'm sure all of this is related to finding new growth machines," he said.

According to Thomas, this is proof of the Indonesian government's commitment to maintaining economic stability and strengthening competitiveness, especially in the midst of global challenges.

Thomas added, with a more inclusive approach to economic sectors and a strong fiscal sustainability strategy, the Indonesian government is optimistic that it will be able to achieve solid and sustainable economic growth in the long term.