"It is directed to strengthen the provision of basic services, increase productivity through connectivity and mobility infrastructure," he said in his speech on the state budget draft for the 2024 fiscal year and financial notes.
He delivered the speech during the plenary meeting of the House of Representatives (DPR) for the 2023–2024 sitting period at the Parliamentary Complex here on Wednesday.
The infrastructure budget will also be used to improve irrigation networks through the construction of dams, primary, secondary, and tertiary irrigation canals, as well as to provide affordable, reliable, and sustainable infrastructure in the energy and food sectors.
Furthermore, it will be used for providing equal access to information and communication technology, as well as supporting strategic projects, including the development of the new capital city (IKN).
Then, a budget of Rp108.8 trillion (around US$7.11 billion) has been allocated to support the economic transformation strategy for food security.
Widodo said that the budget will prioritize increasing food availability, access, and price stability, as well as boosting domestic food production, strengthening farmer institutions, and providing financing support and protection to farming businesses.
He further informed that the food security budget will be used to accelerate the development and rehabilitation of food infrastructure, food estate development, and to strengthen national food reserves.
According to the President, the government is continuously encouraging economic activities to create high added value, including by encouraging the downstreaming of natural resources and fiscal support in the form of tax incentives and various other fiscal incentives.
He outlined that so far, support has been provided for the development of battery-based electric vehicles.
"This is to encourage the acceleration of economic transformation to create high added value, employment opportunities expansion, and use of environmentally friendly energy to reduce emissions, as well as energy subsidy efficiency," he explained.
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Translator: Kuntum Khaira, Raka Adji
Editor: Azis Kurmala
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