- Photo: Bloomberg file
JAKARTA: Indonesian President Prabowo Subianto has called for reforms in state revenues, stricter control of the budget deficit, and focused spending on priority sectors, aiming to make the state budget a driving force for economic growth, a minister said in a statement issued on Wednesday (July 23).
In a fiscal policy meeting held at the State Palace that concluded on Tuesday night, Prabowo emphasised the need for deregulatory measures to foster a conducive business climate and promote sustainable economic growth, according to Finance Minister Sri Mulyani Indrawati.
"The president's directives are very comprehensive. Reforms on the state revenue side will continue so that we can ensure adequate state revenue. Spending will be focused on key programs," she stated.
Mulyani added that the president stressed the importance of reducing excessive regulations to support economic growth beyond reliance on state spending alone.
She also highlighted the need for regulatory improvements to facilitate business, investment, and trade, particularly in strengthening the role and governance of the national superholding agency, Danantara.
"The president stated that if market confidence is maintained, our economy will remain strong, and support for the economy through the state budget, including countercyclical measures, can be effectively implemented," said Mulyani. - Xinhua
