Ministry Of Finance Responds To World Bank Projections, Indonesia's Fiscal Strategy Is Not Known Completely

Director General of Economic and Fiscal Strategy of the Ministry of Finance Febrio Kacaribu. (Photo: Aris Nurjani / VOI)

BOGOR - Director General of Economic and Fiscal Strategy of the Ministry of Finance Febrio Kacaribu responded to the projection of the World Bank or the World Bank which estimates that Indonesia's economic growth will only reach 4.8 percent by 2025 and 2026.

He stated that the World Bank does not have a comprehensive understanding of Indonesia's fiscal strategy that has been designed to encourage national economic growth.

One of the efforts made by the government is the placement of funds amounting to Rp200 trillion in five banks as a form of fiscal stimulus.

"World Bank doesn't know about our fiscals. So yes, we as extensions see it's good, so we get feedback. As I explained, there are stimulus 1, 2, 3, growth machines. Does the World Bank really know about Rp200 trillion? No," he said at the 2026 State Budget Completion event, Thursday, October 9.

Febrio is optimistic that Indonesia's economic growth target in the APBN can be achieved, namely 5.2 percent by 2025 and an increase to 5.4 percent by 2026.

"We are optimistic that for 2025 we can be 5.2 percent. If you look at the World Bank in the last few years, it's always missed. Well, it's good that it's a feedback, we're happy that many people see the Indonesian economy, meaning they are interested," he said.

Furthermore, Febrio explained, international institutions such as the World Bank and IMF often conduct studies on Indonesia because they have an interest in investing in the country.

"World Bank is not an auditor or what. World bank he wants to invest in Indonesia, we ask how much interest? If it's too expensive, we don't want it either. Many people from international institutions want investment in Indonesia, so they continue to monitor it," he explained.

Ia juga menyebut bahwa lembaga-lembaga seperti OECD, IMF, ADB, dan Bank Dunia membuat proyeksi ekonomi sebagai bentuk representasi dari kepentingan negara-negara anggotanya yang ingin menanamkan investasi di Indonesia.

"Mereka ingin investasi di Indonesia sehingga selalu mereka pantau. Kita justru malah melihat dan menyambut baik mereka terus memantau perekonomian Indonesia, artinya mereka pengin investasi karena mereka itu bukan iseng-iseng bikin forecast, bikin studi. Mereka itu mewakili kepentingan kebutuhan investor-investor yang mereka bawa," jelasnya.

He also mentioned that institutions such as OECD, IMF, ADB, and the World Bank make economic projections as a form of representation of the interests of its member countries that want to invest in Indonesia.

"They want investment in Indonesia so they always monitor it. Instead, we see and welcome them to continue to monitor the Indonesian economy, meaning they want investment because they don't make foreplay for fun, make studies. They represent the interests of the investors they bring," he explained.