TEMPO.CO, Jakarta - Finance Minister Sri Mulyani Indrawati presented the performance of the 2023 state revenue and expenditure budget (APBN) so far. She said that even though state income only grew 3.1 percent, when compared with 2021 and 2022, this year state income still grew above 2 high base lines.

On the other hand, he said that state spending remains stable and continues to prioritize national development, as well as to protect the Indonesian people and economy.

"The public is protected both from commodity prices, inflation that causes food price hikes, and the energy prices tendency to remainvolatile," the minister said in the 'Bisnis Indonesia Business Challenges 2024' forum streamed live via Bisniscom's YouTube channel on Nov. 23.

To protect the people from food inflation, Sri Mulyani said that the APBN acts as a shock absorber, wherein the government spending has to be large enough for compensation subsidies and also for social assistance. On the other hand, investment and increasing spending productivity in the infrastructure development sector will remain a priority.

Sri went on to say that in a very unpredictable and dynamic situation, the state budget surplus is quite good. This means that Indonesia has the ability to protect and withstand high shocks and uncertainty. "Nevertheless, we are still issuing bonds and securities."

She added that Indonesia's relatively good economic performances and the state budget's recovery from the pandemic have given Indonesia the resilience against shocks and uncertainties.

MOH. KHORY ALFARIZI

Editor's Choice: Sri Mulyani Attends APEC Finance Ministers Meeting in San Francisco

Click here to get the latest news updates from Tempo on Google News