Sri Mulyani wins award as best finance minister in Asia Pacific region

Sri Mulyani wins award as best finance minister in Asia Pacific region

Indonesia's Finance Minister Sri Mulyani Indrawati. (ANTARA/Satyagraha)

Jakarta (ANTARA) - Finance Asia magazine has ranked Indonesian Finance Minister Sri Mulyani Indrawati as the best finance minister in the Asia-Pacific region. Indrawati won the award for successfully managing the state's finance despite uncertainty in the global economy and geopolitics, chief of the communication and information service bureau at the Finance Ministry Nufransa Wira Sakti said in a press statement released on Thursday.

According to Finance Asia, Indrawati, who has won the award for the third year in a row since 2017, brought the Indonesian economy on the right track by slashing the budget deficit to a six-year low of 1.76 percent of the gross domestic product in 2018.

In addition, through the tax amnesty program launched in 2016-2017, she also managed to improve tax compliance and increase tax receipts, the magazine said.

She also successfully introduced innovations in payment through the Global Green Sukuk (Islamic bonds), which were specifically used to finance climate and environment projects. By issuing the Global Green Sukuk, the first of its kind issued by an Asian country, Indonesia raised US$1.25 billion.

As part of her achievements, Indrawati, acting on behalf of the Indonesian government, managed to coordinate with Bank Indonesia (the central bank) over maintaining the rupiah's stability despite pressure from the US-China trade war.

Meanwhile, Carlos Dominguez of the Philippines was ranked second, Heng Swee Keat of Singapore came third and Josh Frydenberg of Australia secured the fourth place.