Sri Mulyani Pegs 2021 Economic Growth at 4.5 to 5.5%
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12 May 2020 23:15 WIB
TEMPO.CO, Jakarta - Finance Minister Sri Mulyani Indrawati proposed the economic growth assumption for the 2021 State Budget and Expenditure Budget (RAPBN) at 4.5 to 5.5 percent.
"Taking into account all the risks and uncertainties that exist, as well as the potential for global and national economic recoveries next year," she said at a plenary meeting of the House of Representatives, Tuesday, May 12.
The new coronavirus pandemic is significantly affecting the economic growth of Indonesia and the world. The IMF, for example, corrected its growth outlook for Indonesia by almost 6 percent from the projection mentioned earlier in the year.
Under these conditions, Sri Mulyani said that the fiscal policy in 2021 would be about 'accelerating economic recovery and strengthening reforms', particularly during a post-pandemic year.
Indonesia's development focus next year will be on the recoveries of the industrial and manufacturing sector, tourism and investment, the national health system reforms and social safety nets as well as disaster resilience system reforms.
"We hope it can revive the national economic engine, which is in growth momentum," Sri Mulyani said.
The minister said that the proposed macro indicators for formulating next year's state budget include: a 4.5-5.5 percent economic growth, 2.0-4.0 percent inflation, 6.67-9.56 percent rate for 10-year SBNs, and an exchange rate of Rp14,900 to Rp15,300 per US dollar. The Indonesian crude price is pegged at US$40 to US$50 per barrel.
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