Sri Mulyani Responds To The Government For The DPR's View Of The 2024 Fiscal Framework

Finance Minister Sri Mulyani (left) at the Senayan Parliament Complex, Jakarta (Photo: Capture the screenshot of the Ministry of Finance's Youtube)

Minister of Finance (Menkeu) Sri Mulyani today conveyed the government's response to the views of the DPR factions on the framework of the Macroeconomics and the Principles of Fiscal Policy (KEM PPKF) 2024.

On this occasion, the Minister of Finance expressed his highest appreciation to all factions for various inputs and views. He also welcomed the approval from all factions to continue discussing the 2024 KEM-PPKF Documents as a reference in the Discussion on the Preparation of the RAPBN for the 2024 Fiscal Year.

"We are listening seriously to the views of the DPR RI faction on the 2024 KEM-PPKF which agrees that the challenges ahead, which come from external, are getting tougher, especially regarding increasing geopolitical fragmentation and its various implications," he said at the Senayan Parliament Complex. Jakarta on Tuesday, May 30.

According to the Minister of Finance, strengthening the effectiveness of fiscal policy management needs to be maintained considering the crucial role of the State Budget as an instrument for reducing uncertainty fluctuations. On the other hand, the State Budget continues to be used to support the implementation of various national development agendas.

"Health conditions and fiscal sustainability also need to be strengthened in order to produce credible fiscal policies and be able to anchor macroeconomic stability," he said.

The state treasurer added that consumption activities are expected to strengthen next year in line with maintaining people's purchasing power, controlled inflation and increasing job creation.

The Minister of Finance explained that holding simultaneous elections and regional elections will also contribute to economic activity. He said investment is also expected to increase, especially related to downstream sectors, both minerals and agricultural products.

The increasing development of smelters will encourage corporate capital expenditures in related sectors. The acceleration of the implementation of the structural reform agenda carried out by the Government is expected to continue to improve the investment and business climate in Indonesia so as to encourage greater investment attraction," he said.

Meanwhile, a number of macro frameworks for the APBN that will be discussed are as follows:

Economic growth of 5.3 percent to 5.7 percent

Inflation in range 4.5-5.3 percent

The rupiah exchange rate is IDR 14,700 to IDR 15,300 per US dollar.

SBN interest rate 10 years 6.49-6.91 percent.

The price of Indonesian crude oil (ICP) is 75 to 85 dollars per barrel.

Petroleum lifting 597,000 - 652,000 per barrel per day

Gas lifting 999,000 - 1,054,000 barrels of oil equivalent per day.