Govt's structural reformation creates sustainable economy: Ministry

Govt's structural reformation creates sustainable economy: Ministry

Head of Fiscal Policy at Ministry of Finance Febrio Kacaribu. (ANTARA/Agatha Olivia/FR)

We expects that it (structural reformation) could support economic growth in the future
Jakarta (ANTARA) - Several structural reformation efforts undertake by the government are not only for facilitating recovery but also for creating a sustainable economy, according to Head of Fiscal Policy at the Ministry of Finance Febrio Kacaribu.

During the talk on the 2022 State Budget Webinar event here on Monday, Kacaribu outlined that this structural reformation comprised the formation of the Investment Management Institution (LPI), Job Creation Law, and Risk-based Online Single Submission (OSS).

These various reforms are crucial milestones in bolstering investment, increasing productivity, and creating quality jobs, he noted.

"We expect that it (structural reformation) could support economic growth in future," Kacaribu stated.

Moreover, Indonesia's economy is still potentially plagued by uncertainty in the next year due to the pandemic that has protracted in addition to the global economic trend.

To this end, Kacaribu will ensure that the state budget next year would remain flexible and responsive in order to tackle that uncertainty as well as to mirror optimism and cautiousness.

Meanwhile, the theme of next year's policy -- economic recovery and structural reformation -- contains two key aspects, he highlighted.

Firstly, the 2022 state budget is directed at handling the pandemic and conducting a gradual economic recovery.

Secondly, the 2022 state budget is utilized to support structural reformation to drive growth acceleration and create a strong economy in future.

"The 2022 state budget is formulated by taking into account development goals, and it is based on the macro assumption that the government, along with the DPR (House of Representatives), have agreed upon," Kacaribu expounded.

Meanwhile, he informed that Indonesia's current economic growth was recorded to be equal across all components and indicates an upward trend.

This is supported by economic indicators, both in terms of consumption and production, that have shown an upward trend along with the bolstering of the pandemic-handling policy by the government.

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