Jokowi Asks for Realistic Macroeconomic Assumptions
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Selasa, 20 Januari 2015 12:54 WIB
TEMPO.CO, Jakarta - President Joko Widodo asked his ministers to draft macro assumptions in the State Budget 2015 changes that are as realistic as possible. Finance Minister Bambang Brodjonegoro said that some macro assumptions that need to be made realistic include economic growth target, crude oil prices, the rupiah exchange rate against the US dollar, and oil and gas lifting targets.
In the 2015 Revised Budget draft, the government proposed some macro assumption changes, including an economic growth of 5.8 percent, an inflation target of 5.0 percent, and the 3-month state treasury bills at 6.2 percent.
The government also uses the benchmark exchange rate of Rp12,200 per US dollar with a crude price benchmark of US$70 per dollar. Oil lifting target is also revised to 849,000 bpd, while gas lifting target was changed to 1.12 million bpd.
To boost state revenues, the government will push for tax revenues by tightening law enforcement against of taxpayers, both personal and corporate. In addition, the Ministry of Finance will improve tax administration through e-tax invoices, preventing transfer pricing, and improving the rules on income tax, value added tax, and luxury tax.
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