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02
December

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Japan is set to earmark 40 trillion to 43 trillion yen ($295 billion-$318 billion) for defence spending over five years starting in the next fiscal year, which begins in April, three sources with knowledge of the matter told Reuters on Friday.

That would be a jump from the current five-year defence plan for spending 27.5 trillion yen, stoking worry about worsening one of the industrial world's worst debt burdens, which amounts to twice the size of Japan's annual economic output.

The new numbers marked a compromise between the defence and finance ministries, the three sources said. Until recently, the defence ministry had sought 48 trillion yen, while the finance ministry had multiple options centring around 35 trillion yen.

Prime Minister Fumio Kishida told key ministers on Monday to work on a plan to lift defence spending to an amount equivalent to 2% of gross domestic product within five years, from 1% now, as Tokyo faces an increasingly assertive Beijing.

The key ministers - Finance Minister Shunichi Suzuki and Defence Minister Yasukazu Hamada - are expected to meet again with Kishida this month to iron out differences over the spending plan. The Finance Ministry declined to comment.

Defence authorities had informally floated an idea of spending in the upper range of 40 trillion yen over five years, while finance bureaucrats had sought spending along the lines of the current five-year plan.

"It won't be critical to spend some 40 trillion yen. The question is whether the government could secure funding sources and whether we can let the money flow through domestic defence and related industries to back the economy," said Takuya Hoshino, senior economist at Dai-ichi Life Research Institute. "If we spend the money to buy weapons and other military goods overseas, that would trigger capital outflows and yen depreciation."

Reflecting opposition from many lawmakers against tax increases, which could nip the nascent economic recovery in the bud, Japan is expected to delay any such moves for at least a year, sources told Reuters.

That would leave the country with fewer options to secure funding for a boost to military spending.

Three government sources, who declined to be identified because of the sensitivity of the issue, said Japan could focus on measures such as spending cuts, more debt issuance, non-tax revenue such as surplus money from the foreign reserves special account, and money left over from funds to help state-related firms cope with COVID. (Reuters)

02
December

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Malaysia's newly-appointed Prime Minister Anwar Ibrahim said on Friday that he would also serve as the country's finance minister, retaking a cabinet role he first held 30 years ago as he looks to address a slowing economy.

He also appointed Ahmad Zahid Hamidi, who has been charged with graft, as a co-deputy prime minister, indicative of the need to appease coalition partners essential for the stability of his administration. Ahmad Zahid has denied the charges.

Anwar became premier last week, after a general election last month resulted in an unprecedented hung parliament. Anwar's bloc did not win a simple majority but he formed a coalition government with the help of other political blocs.

"This cabinet is a cabinet of a unity government," Anwar told a news conference. The ministers will be sworn in on Saturday, he said.

"We have set several basic principles: good governance, spurring the economy, and reducing the people's burden in terms of living costs."

His new deputy premier Ahmad Zahid is on trial over 47 charges of bribery, money laundering and criminal breach of trust. Ahmad Zahid has pleaded not guilty.

Zahid leads the Barisan Nasional alliance - Malaysia's long-dominant political bloc that is now unpopular due to corruption allegations against its leaders. Barisan came in third in the polls but its support was essential for Anwar to gain parliamentary majority.

Fadillah Yusof, another key coalition partner, was also named as a deputy prime minister.

Key portfolios including foreign and trade ministries were allocated to coalition partners.

Anwar's cabinet also features many new faces, including Rafizi Ramli, the deputy president of his party, who was named economy minister.

CHECK AND BALANCE

Investors have cheered Anwar's appointment as prime minister, hoping that he can bring stability after a period of political uncertainty that saw three prime ministers in as many years.

Anwar's appointment capped a three-decade political journey from a protege of veteran leader Mahathir Mohamad to protest leader, a prisoner convicted of sodomy and opposition leader.

Anwar was appointed as finance minister in 1991 by the then prime minister, Mahathir, and later became deputy premier.

He was fired in 1998 after the two disagreed over how to respond to a financial crisis across Asia, and subsequently jailed on sodomy and corruption charges - accusations that Anwar maintains were aimed at ending his political career.

Critics have cautioned against Malaysia's premier also holding the finance portfolio, in order to ensure proper check-and-balance mechanisms and avoid a repeat of a multibillion-dollar graft scandal that erupted under former prime minister Najib Razak.

Najib held the finance portfolio during his premiership in 2009-2018. During that tenure, he co-founded 1MDB, a state fund from which some $4.5 billion were allegedly stolen between 2009 and 2014, according to U.S. prosecutors.

Najib is now in jail for graft over the 1MDB scandal. (Reuters)

02
December

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President Joko Widodo (Jokowi) urged the General Elections Commission (KPU) to be mindful of several aspects while organizing the 2024 General Elections.

"The remaining time (as a) momentum must be utilized well to bolster the technical capacity to prepare (for) the election, work on tackling any deficiencies, and addressing any issues," the president stated here, Friday.

While speaking at KPU's National Consolidation Meeting for the 2024 General Elections, the president underlined the need for technical regulation at every election stage to ensure its legality.

Apart from urging the election commission to be prudent in every action, as even technical aspects could be perceived as politically motivated, Jokowi also called on the KPU to ensure detailed electoral logistics preparations and arrangements.

"Planning and procurement must be exactly to (match) the need and (be) timely. We must not allow under-preparedness to cause any quarrel. Even a minor aspect could cause a quarrel on election day. Moreover, efficiency and transparency are also essential," he noted.

He then underlined the importance of improving KPU's human resources from the central to the lowest level in the region to ensure smooth election conduct.

"Provide (election officers) with sufficient capacity to ensure they will perform their duty well. We must understand this important mission of organizing the election by exhibiting credibility and the best ability for the nation," the president stated.

Jokowi said that electoral organizers must be mindful that the 2024 General Elections will be organized amid fluctuating global conditions, so they should work and utilize the budget efficiently.

The KPU must also bolster its efforts to boost political education among candidates and voters by encouraging peace, honesty, and integrity in elections while discouraging behaviors that might be harmful to democracy.

The president emphasized that all should encourage a quality campaign that bolsters Indonesia's democracy, optimizes information technology, and encourages a war of ideas.

Meanwhile, KPU Chairperson Hasyim Asy'ari expressed gratitude to the president for having visited the national consolidation event.

"We can say that Mr President's presence is a form of support from the government to KPU and shows that elections will be held punctually (every) five years," he affirmed.

Asy'ari expects that at the national consolidation event, Jokowi can give directives and bring enthusiasm to the KPU to make the 2024 general elections and regional head elections a success. (Antaranews)

02
December

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Indonesian language has been spoken by a global populace of at least 300 million, including 30 million non-Indonesians, according to the South Sumatra Language Agency.

"Yes, almost 300 million of the global population, including Indonesia's 270 million population, speaks Indonesian. Bahasa Indonesia clearly has the potential to become an international language at par with English," South Sumatra Language Agency Head Umar Solikhan stated here, Thursday.

The regional agency head noted that by mid-2022, some two million people in the Americas and Europe, 2.4 million in Asia-Pacific and Africa, and 5.2 million people in Southeast Asia, excluding Indonesia, speak Indonesian.

While Indonesian language has been taught at some 428 global institutions in 56 countries, some 142 thousand foreign nationals are studying Indonesian under the agency's Indonesian Language for Foreign Speakers programme, he remarked.

Moreover, the COVID-19 pandemic did not bar the spread and development of the Indonesian language overseas, particularly as Law No. 24 of 2009 mandated efforts to make Indonesian an international language, he noted.

To promote correct and appropriate use of Indonesian language, Solikhan said that his agency grants awards to government and private institutions deemed consistent in maintaining the quality of language used in public spaces and internal documents.

He affirmed that the agency remains committed to providing guidance and is ready to be a partner to develop and promote the right and apt use of Indonesian language.

Earlier, on Wednesday (November 30), in accordance with the national language policy mandating regional language preservation, the South Sumatra Language Agency launched an online Palembang-Indonesian language dictionary.

Apart from facilitating residents keen to learn the Palembang language, the dictionary is also an effort to preserve the local language and protect it from extinction, Solikhan said.

The South Sumatra Language Agency, culturalists, academicians, and Palembang-Malay linguists were involved in creating the digital Palembang-Indonesian dictionary. The team also conducted several tests before the dictionary’s launch. (Antaranews)