Encouraging To Be A High Revenue Country, Sri Mulyani Said The Government Would Strengthen Downstreaming And Agriculture

Minister of Finance Sri Mulyani. (Photo: Aris Nurjani/VOI)

Minister of Finance (Menkeu) Sri Mulyani Indrawati said Indonesia has a vision to become a country with a high income status, more inclusive, and strengthen the economic structure.

"Some of the policies adopted will continue to be strengthened, including, in this case, strengthening the economic structure through industrial downstreaming, both related to strategic mineral strengths such as copper and nickel, as well as in other sectors such as agricultural products that are the President's priority", he said in his statement, Thursday, November 28.

In line with these ideals, the government is trying to become a member of the Organization for Economic Co-operation and Development/OECD Cooperation and Development.

In the process, the Ministry of Finance together with OECD officially launched the 2024 OECD Indonesia Economic Survey.

The report discusses macroeconomic policies including OECD's advice for the Republic of Indonesia to increase revenue and socio-economic convergence, digitization, and a green transition.

Therefore, OECD supports Indonesia's efforts in order to build food security, energy, water, strengthen human resources, and accelerate the green transition, to achieve the vision of Indonesia Gold 2045.

Sri Mulyani said that OECD support is expected to strengthen the implementation of government programs to increase Indonesia's competitiveness in the midst of global dynamics.

In its report, OECD said that Indonesia's growth had recovered after the pandemic, although it still had to be careful in determining fiscal and monetary policies to maintain macroeconomic stability.

The report also stated that OECD projects that Indonesia's economic growth in 2025 will reach 5.2 percent (yoy).

In addition, Indonesia is also considered to have been able to suppress inflation, which in 2022 will reach 6 percent to reach 1.7 percent in October 2024.

Sri Mulyani emphasized that the results of the 2024 OECD Indonesia economic survey show that Indonesia has succeeded in maintaining economic resilience even in the midst of global uncertainty.

According to Sri Mulyani, this success cannot be separated from careful fiscal and monetary policies and ongoing efforts in carrying out structural reforms.

"In line with that, Indonesia has a strong desire to become a country with a high income status," he said.

Sri Mulyani said that Indonesia, which is currently undergoing an accession process to become an OECD member, hopes that from the positive side listed in the report, it can attract investors to Indonesia.

"The 2024 OECD Indonesia Economic Survey is also expected to show various efforts by Indonesia in maintaining economic stability, protecting vulnerable communities, and maintaining fiscal sustainability amid the dynamics and volatility of the global economy as well as the challenges of climate change," he said.

In addition, Sri Mulyani conveyed that recommendations from the OECD could be used in an effort to achieve national goals that are beneficial to the community.