TEMPO.CO, Jakarta - Finance Minister Sri Mulyani said her ministry was working in tandem with the Ministry of Research, Technology, and Higher Education (Kemenristekdikti) to identify the total budget required for research and development (R&D) in Indonesia.

“We will help with research and development issues, we have been in touch with Kemenristekdikti on how to identify the total budget, who will run it, and the kind of research,” said Sri Mulyani at the Finance Ministry office, Jakarta, Monday, February 18.

With those identifications, Sri Mulyani added, the government could manage the expenditure in which educational expenses, including the fund for research, could be financed through the Endowment Fund for Education (LPDP) or the research endowment fund or scholarships.

Read: Reasons The Banker Names Sri Mulyani Finance Minister of the Year

“We are still canvassing the endowment fund for the R&D sector, its type, and the institutions that will receive it,” said Sri Mulyani.

Earlier, during a press conference at Merdeka Palace, Saturday, February 16, President Joko Widodo or Jokowi said the government had earmarked Rp26 trillion for the country’s R&D sector.

Meanwhile, the CEO of Indonesian unicorn Bukalapak, Ahmad Zacky, said recently it would be hopeless to face Industry 4.0 with the government’s current R&D budget. He also compared Indonesia's R&D budget to neighboring countries Malaysia and Singapore, which ranked 24^th and 25^th and allocated US$10 billion each or equal to Rp141trillion.

CAESAR AKBAR | FRISKI RIANA