BRI Microfinance Outlook 2024
M Rosseno Aji Nugroho, CNBC Indonesia
Thursday, 07/03/2024 20:10 IWST
Photo: (CNBC Indonesia/Tri Susilo)
Jakarta, CNBC Indonesia – Minister of Finance Sri Mulyani Indrawati recently met with the Minister of Finance and the Governor of the Central Bank of the G20 member countries in Brazil.
Sri Mulyani said that many countries were amazed and praised Indonesia’s economic performance.
“In various conversations with rating agencies and my colleagues from the G20 ministers,” he said at the BRI Microfinance Outlook 2024 event at the BRILiaN Tower, South Jakarta, Thursday (7/3/2024).
“They see that Indonesia is head of the curve in terms of fiscal consolidation of state revenues, expenditures and various reform efforts undertaken to make the APBN healthier and stronger,” explained Sri Mulyani.
At the end of 2023, the state revenue and expenditure budget (APBN) deficit will only be 1.65% of gross domestic product (GDP). This is much smaller than previously assumed. In fact, it is smaller than during the pandemic in 2020, when it increased above 6%.
The primary balance of the 2023 State Revenue and Expenditure Budget (APBN) experienced a surplus of IDR 92 trillion. This primary balance performance is achieved amidst conditions of extraordinary stress.
When compared to the primary balance which has a deficit of IDR 74.1 trillion in 2022, the reversal will reach more than IDR 166 trillion in 2023. According to Sri Mulyani, this is an extraordinary achievement.
“The deficit can continue to be reduced so that our primary balance has a surplus of IDR 92 trillion and this is ahead of the curve and is the first primary balance surplus in the last 12 years (2012),” said Sri Mulyani.
Even though the APBN is in a consolidated position, economic growth can still be maintained high. In the last two years the domestic economy has managed to grow by around 5% amidst many countries experiencing economic weakness and even collapse.
“The APBN can recover when the economy remains sustainable, meaning that APBN recovery does not sacrifice our economic performance,” he concluded.
Watch the video below:
Video: Sri Mulyani Ensures She Will Inherit a Healthy APBN
(rsa/me)
2024-03-07 13:10:38
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