FILE PHOTO: A woman knocks on the gate of a construction site in front of skyscrapers in the Central Business District on a polluted day in Beijing, China, November 5, 2021. REUTERS/Thomas Peter -
China will step up its fiscal spending this year to support the slowing economy, despite a lower budget deficit ratio, Finance Minister Liu Kun said on Saturday.
A lower budget deficit ratio is an important measure to maintain fiscal sustainability, which will help reserve more policy room for future risks and challenges, Liu said on the sidelines of the annual parliament meeting.
The budget deficit target for 2022 was set at around 2.8per cent of gross domestic product (GDP), compared with last year's target of around 3.2per cent of GDP.
Liu said an increase in the central government's fund allocation of 1.267 trillion yuan ($42.25 billion) this year - supported by carryovers from previous years, would imply a higher budget deficit ratio.
"This amount of funds is equivalent to raising the deficit ratio by one percentage point, and the intensity of fiscal expenditure is guaranteed," he said.
China on Saturday targeted slower economic growth of around 5.5per cent this year as domestic headwinds, including a downturn in its vast real estate sector and lacklustre consumption, cast a pall on the outlook for the world's second-largest economy.
Premier Li Keqiang said in the government's work report that tax cuts and tax rebates will amount to around 2.5 trillion yuan this year.
The central government will boost its transfer payments to local governments to nearly 9.8 trillion yuan this year to help offset any hit on local revenues, the finance ministry said.
The government will step up outlays in infrastructure investment, mainly funded by local government special bonds, under an annual quota of 3.65 trillion yuan.
The finance ministry has already issued 1.46 trillion yuan in its 2022 advance quota for local government special bonds, on top of 1.2 trillion yuan in unspent bond funds from the fourth quarter of 2021 - part of the 2021 quota of 3.65 trillion yuan.
($1 = 6.3188 Chinese yuan renminbi)//CNA
Public Relations of IDI-Makassar Chapter, Dr Wachyudi Muchsin. ANTARA/HO/Dok -
The Indonesian Medical Association (IDI)-Makassar chapter has laid emphasis on making meticulous preparations for transitioning from the COVID-19 pandemic phase to the endemic phase amid rising cases of daily transmission.
Dr Wachyudi Muchsin from Public Relations of the IDI-Makassar Chapter, here on Saturday, spoke of the government having announced that after two years, the COVID-19 pandemic in Indonesia would enter the endemic phase.
"In Indonesia, the first case was found on March 2, 2020, and as of today, 5.5 million cases and more than 148 thousand fatalities due to COVID-19 had been recorded. Soon, this will become endemic," Muchsin stated.
The doctor noted that the government's target for COVID-19 to enter the endemic phase must be complemented with solid support from the government and society.
Muchsin opined that the government should work on strengthening the database since Indonesia often reeled from the problem of a lack of data. He noted that the data can serve as the basis for formulating evidence-based policies.
A discrepancy exists between the data held by the central and local government and not all data presented were real and up-to-date, he pointed out.
"This data discrepancy causes the decision-making for pandemic policies to often not be synchronized," he cautioned.
The doctor emphasized that the implementation of health protocols should be tightened, and vaccinations for all target groups should also be expedited in order to enter the endemic phase.
Moreover, the government must intensify its efforts to raise awareness and disseminate information to prepare the community to enter the endemic phase.
On top of that, the government must continue to actively undertake testing and tracing efforts as well as ensure the improvement of health facilities.
Health Minister Budi Gunadi Sadikin had earlier confirmed that the Indonesian government was outlining a strategy to change the status of the COVID-19 pandemic to an endemic phase.
"We also received direction from the president, with input from the coordinating minister regarding the strategy (to shift) from the pandemic to endemic stage. We have prepared the protocol," Sadikin stated.
The minister explained that President Joko Widodo (Jokowi) had called for careful consideration before arriving at a decision by taking into account various approaches from the scientific, health, social, cultural, and economic aspects//ANT
A part of the new national capital’s (IKN’s) design illustration. (ANTARA/PUPR Ministry/FR) -
The head of the National Capital (IKN) Authority would need to meet several basic criteria to lead the relocation and development of IKN, city planning expert Nirwono has said.
One of the criteria is an understanding of the new capital’s development plan, as stipulated in Law No. 3 of 2022 on IKN, he expounded.
Next, the IKN Authority head would also need to be capable of assisting in the formulation and issuance of all derivative regulations of the IKN Law, whether central or IKN Authority head regulations, he said.
Then, the official would also need to have a knowledge of the site of IKN’s development and its sociocultural characteristics, he added.
"Moreover, they should have clear budget allocation," he remarked.
The IKN Authority head should ideally be drawn from the Public Works and Public Housing Ministry, specifically from the IKN Development Planning Task Force and IKN Development Execution Task Force, Nirwono suggested.
Officials from these task forces will have a better understanding of the early plan for the IKN's development, he said. This will make development more effective, he added.
"They can immediately carry out basic city infrastructure development such as the construction of roads, waterways, utility networks, police or military housing, and Presidential Palace," he remarked.
Next, the leadership of the IKN authority in the next phase can come from external parties and be assigned several tasks such as cooperating with local governments, inviting potential investors, and expediting development in other regions, he said.
As per Law No. 3 of 2022, the Indonesian President will have to appoint the head and deputy head of the IKN Authority within two months of the law’s ratification on February 15, 2022, at the latest.
President Joko Widodo, on February 22, 2022, stressed that he will appoint the IKN Authority head promptly.
He also noted that the candidate for the National Capital Authority head would come from a non-party affiliated political group//ANT
Telkom President Director Ririek Adriansyah during his visit to the National Capital City (IKN) Nusantara. (ANTARA/HO-Telkom/rst) -
State-owned telecommunication company PT Telkom Indonesia is committed to providing world-class digital services in the National Capital City (IKN) Nusantara.
"In line with the government's plan to build IKN Nusantara as a smart city, we are responsible to bring about digital transformation in the region," Telkom President Director Ririek Adriansyah noted in a written statement received on Saturday.
The development plan in IKN will cover three digital business domains comprising connectivity, platform, and services in synergy with all subsidiaries and also the government, he remarked.
Adriansyah later highlighted that Telkom is ready to support the provision of digital infrastructure and services at IKN Nusantara, with focus on providing connectivity, platforms, and various digital services.
Currently, Telkom's coverage in network infrastructure around IKN Nusantara had arrived in the form of 173 Open Distributed Processing (ODP) in Sepaku Sub-district, with a possibility of further development.
In addition, the Manado-Dumai Indonesia Global Gateway (IGG) submarine cable, crossing the Makassar Strait, will help IKN Nusantara to be directly connected globally through the Batam and Manado gateways.
Meanwhile, Telkomsel's mobile services will increase the capacity and improve the quality of 4G and 5G networks in IKN Nusantara.
In addition, TelkomGroup will present digital solutions through the construction of an Intelligent Data Center (IDC) with Smart & Intelligent Network Security to encourage the realization of IKN Nusantara as a smart city with a high level of cybersecurity.
"To ensure the realization of infrastructure development in IKN Nusantara, TelkomGroup will collaborate with the Ministry of Public Works and Public Housing (PUPR), Ministry of Communication and Informatics, and other related institutions. We are optimistic that the spirit of this collaboration from all parties would encourage digitalization in IKN Nusantara as a smart city for a better Indonesia," Adriansyah concluded//ANT