Once Told Sri Mulyani Ratu Was In Debt, This Time Rizal Ramli Agreed On 8 Percent Economic Growth

Indonesian economic expert and politician, Rizal Ramli. (Photo: Twitter @RamliRizal)

JAKARTA - Former Coordinating Minister for the Maritime Economy, Rizal Ramli, often criticized the Indonesian government. Lately, Rizal has often criticized the Minister of Finance Sri Mulyani Indrawati.

The Minister of Finance often replied to Rizal Ramli's insinuation and insinuation, although Sri Mulyani did not directly mention his name. However, in a tweet on social media Twitter, Rizal Ramli finally agreed with the opinion of the former World Bank Managing Director regarding economic growth.

In a seminar themed "Golden Indonesia 2045: Graduated from Middle Income Trap", Sri Mulyani Indrawati revealed that Indonesia could get the status of a developed country, if its economy grew 8 percent year on year (yoy) in a sustainable manner. Thus, according to him, Indonesia can get out of the middle income trap.

"This time, SMI is right, it needs growth of 8 percent per year until 2045, so that Indonesia becomes a developed country," said Rizal Ramli in his tweet on Twitter, quoted by VOI, Saturday, November 28.

This time, SMI is right, it needs to grow 8% per year until 2045, so that RI becomes a developed country. But the performance so far has always been below 6% because the formula is only owing money & increasing prices. Failed strategy! Forward: Sri Mulyani said that 8% economic growth is needed. https://t.co/gcqpONdvou

- Dr. Rizal Ramli (@RamliRizal) November 27, 2020

Even though he agreed, Rizal Ramli's tweets again ended up being cynical. He said, the growth performance which was always below 6 percent showed that there was wrong management by the government.

"But the performance so far has always been below 6 percent because the formula is only owing money and raising prices. A failed strategy !," wrote Rizal Ramli.

Rizal Ramli has often dubbed Sri Mulyani the title 'debt queen' to 'bilateral debt beggar' when responding to the performance of one of the women ministers in the Indonesia Forward cabinet.

Sri Mulyani also revealed that the matter of debt has been regulated in Presidential Regulation (Perpres) No 72/2020 concerning Amendments to Perpres No 54/2020 concerning Posture Changes and Details of the 2020 State Budget.

Sri Mulyani said that Presidential Decree Number 72 regarding the 2020 State Budget budget has an estimated deficit with financing from SBN (government securities), loans, bilateral and multilateral.

"There are people today who like to talk about debt issues, just say that in Presidential Decree 72/2020 the time for the 2020 APBN budget with such an estimated deficit, the financing is from SBN, from loans, some are bilateral, some are multilateral," explained Minister of Finance Sri. Mulyani in the press conference of the US National Budget which was broadcast virtually, Monday 23 November.

For this reason, Sri Mulyani asked that there be no parties responding sideways as if the government had no plans to implement Presidential Decree 72/2020.