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Sunday, 08 January 2023 21:04

The 2022 State Budget has succeeded in maintaining Indonesia's economic stability

Written by  Rahma
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The government's financial report at the beginning of this year is quite a relief. Minister of Finance Sri Mulyani Indrawati stated that the state revenue and expenditure budget (APBN) has worked extraordinarily to stabilize prices so that inflation until the end of 2022 can be maintained at the level of 5.5 percent. While several ASEAN member countries, even developed countries such as European countries and the United States experienced higher inflation. He said this at the KiTA State Budget Press Conference in Jakarta on Tuesday (3/1).

Sri Mulyani said that one of the efforts to control inflation was through the provision of subsidies for commodities whose prices were soaring at the global level, such as oil.

Another comforting news is that the 2022 state budget deficit is only 2.85 percent of Gross Domestic Product (GDP), or lower than the target in the revised state budget which is 4.50 percent of GDP. According to Sri Mulyani, this shows extraordinary fiscal consolidation.

Meanwhile the Minister of Finance also said that the performance of state revenues, both taxes, customs and PNBP, was outstanding in two consecutive years. When the economy recovers, all state revenues are also restored.

Sri Mulyani further said that state revenues which also grew due to rising commodity prices, including Indonesia's leading export commodities, were used to protect society and the economy.

According to Sri Mulyani, the maintenance of economic stability is due to the good cooperation between the government and Bank Indonesia in managing the fluctuations in commodity prices.

Indonesia as an open country certainly cannot be separated from the influence of the world economic situation. The negative impact of deteriorating world economic conditions must also be felt by Indonesia. However, due to the government's hard work, the negative impact did not create a major shock to the domestic economy. This is quite an achievement. Hopefully in 2023 Indonesia's economic situation will improve.

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