"Fellows from the fiscal policy office should be aware of the relationship between fiscal and financial sector policies on how they can shape a dynamic economic environment," Nazara remarked at the 2021 10th AIFED, here on Wednesday.
Nazara listed -- product, people, place, and policy -- as four essential aspects for the fiscal policy to create a dynamic economic environment and ensure a faster recovery period.
The product aspect covers the types of products that can potentially encourage new economic growth, facilitate greater employment, and are included in the green economy.
The second aspect of people pertains to methods and strategies to make the most of the demographic bonus to create new potential that is able to promote economic growth.
Related news: Govt offering fiscal support to attract investment in oil, gas sector
It is also related to efforts to face challenges that can be made by improving the quality of human resources.
"Not only do we enjoy the demographic bonus but also face the challenges pertaining to the quality of human resources and the labor market that are all about employment," he affirmed.
Related news: Ministry reiterates carbon tax necessity for sustainable economy
The third aspect is place, in which the fiscal policy must take into account the diverseness of regions in Indonesia, for which the imposed policies should also differ accordingly.
For instance, policies in infrastructure development or promoting employment policies must be customized according to the geographical conditions of each region.
The last aspect is policy, which is related to the ability of the fiscal policy to support job creation and boost income for citizens.
Related news: Public urged to tighten health protocols against Omicron variant
Related news: Remembering Taroenamihardja, first Attorney General of Indonesia