Sri Mulyani Answers President Jokowi's Trade Deficit Complaint



Petir Garda Bhwana

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  • TEMPO.CO, Jakarta - Finance Minister Sri Mulyani answered President Joko “Jokowi” Widodo’s complaint on the country’s trade deficit by planning to boost the performance of Indonesia’s industrial sector, trade, and investment.

    “The strategy to reduce the deficit through industrial policies, trade policies, and investments, will be thoroughly supported,” said Sri Mulyani at the Presidential Palace complex on Monday, August 12.

    According to the former World Bank Managing Director, one of the plans to reduce the deficit is by continuing the B20 fuel (diesel fuel mixed with 20 percent palm oil) and improve it to the B30 version early in 2020, which will be followed by introducing the B50 by the end of 2020.

    “We are set to fully support the steps that Coordinating Minister Darmin Nasution elaborated. Across the key sectors of industry, trade, and investments,” Sri Mulyani said.

    Coordinating Minister of Economic Affairs Darmin Nasution previously explained that the realization of the B20 policy has reached 97.5 percent since last year to July of 2019. This equals to the use of 6,1 million kiloliters of palm oil.

    “This saves our foreign exchange up to USD 1,7 billion,” said Minister Darmin.

    President Jokowi also ordered for the test trial of the B30 policy as early as October 1, 2019, and make it effective nationwide on January 2020.