Jakarta (ANTARA) - Finance Minister Sri Mulyani Indrawati stated that the 2024 State Budget is used as an instrument to maintain economic growth and stability.

"State budget will continue to serve as a tool or instrument that will protect the economy and our people with the 2024 State Budget posture that continues to be maintained to support our economy and maintain stability," she noted here on Thursday.

At the Political Celebration and Business Economic Direction 2024 event, Indrawati remarked that the state budget also serves as an instrument to continue various reforms to build a stronger foundation for the economy going forward.

The minister highlighted that the 2024 State Budget is focused on areas that are an important foundation for the country's economy, namely health, food security, infrastructure, education, social protection, energy security, as well as law, defense, and security.

In the 2024 State Budget posture, Rp186.4 trillion (around US$11.97 billion) is allocated for health, Rp660.8 trillion (US$42.46 billion) for education, Rp493.5 trillion (US$31.71 billion) for social protection, and Rp108.8 trillion (US$6.99 billion) is allocated for food security.

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Moreover, Rp444.2 trillion (US$28.55 billion) is allocated for energy security, Rp422.7 trillion (US$27.16 billion) for infrastructure, and Rp324.1 trillion (US$20.83 billion) is allotted for law, defense, and security.

To maintain economic stability and the momentum of economic recovery, the government is also making several efforts, such as increasing cash assistance and providing rice aid to respond to situations like El Nino and spikes in food prices.

Furthermore, since the property sector still needs stimulus, the government provides support for the purchase of commercial houses under Rp2 billion (US$128,480) by fully covering the value-added tax until June 2024 and 50 percent of the tax until the end of 2024.

The government also offers support in housing, especially for people from the low-income bracket, by providing assistance with administrative costs, which have been identified as one of the obstacles for people to buy houses through credit.

"These are the steps that we carry out, still in the context of state budget implementation, both in 2023 and 2024. The aim is, of course, to maintain the stability of the economy and build economic growth, so that it does not experience weakening," Indrawati remarked.

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Translator: Martha Herlinawati, Raka Adji
Editor: Yuni Arisandy Sinaga
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