TEMPO.CO, Jakarta - Finance Minister Sri Mulyani Indrawati has again named as FinanceAsia's Asia-Pacific Best Finance Minister of 2019 for three consecutive years.
According to FinanceAsia, the former Managing Director of the World Bank succeeded to take Indonesia's economy to a positive path with the lowest budget deficit in the past six years. In 2018, the country's budget deficit was at 1.76 percent per Gross Domestic Product (GDP).
Through her program, the Tax Amnesty, which was held from 2016 to 2017, Sri Mulyani successfully increased tax compliance rate while at the same time increase tax revenue.
Sri Mulyani also encouraged Indonesia as the first Asia country that issue green bonds, a bond specifically earmarked to be used for projects related to climate and environment, amounted to USD1.25 billion.
Moreover, in the midst of the declining exchange rate in line with the trade war between the United States and China, Sri Mulyani is capable to maintain the stability of the rupiah exchange rate.
FinanceAsia granted the second place to the Philippines Finance Minister Carlos Dominguez, followed by Singapore’s Heng Swee Keat, Australia’s Josh Frydenberg, and Hong Kong’s Paul Chan.
In early 2019, Sri Mulyani was also named as Finance Minister of the Year 2019 Global and the Asia Pacific by The Banker, a magazine affiliated with the Financial Times.