"Amid plenty of notable turmoil, Indonesia has been relatively successful in maintaining (its economic conditions)," she remarked at the BNI Investor Daily Summit 2024 in Jakarta on Tuesday.
Among the evidence of Indonesia's solid economy is its success in consolidating its fiscal situation in the post-COVID-19 pandemic by keeping the state budget deficit below three percent.
Indrawati attributed Indonesia's stable economic growth to the government's special focus on infrastructure and human development.
The state treasurer underlined that President Joko Widodo's administration has been known for its resolve to intensify infrastructure development, as reflected in the steadily increasing budget allocation.
In that regard, the minister noted that in 2014, the government had allocated Rp157.4 trillion (around USD10 billion) for infrastructure development. The figure rose considerably to Rp423.4 trillion (USD27 billion) in 2024, the final year of the president's administration.
She affirmed that infrastructure development serves as one of the main economic foundations expected to pave the way for quality growth.
Drawing attention to human development, Indrawati emphasized that the government had been paying special attention to budget allocations for educational, social protection, and health programs.
As mandated by the 1945 Constitution, the minister underscored the need to mobilize at least 20 percent of the state budget for educational purposes.
The minister revealed that the budget devoted to the education sector had grown significantly over the past decade, from Rp353.4 trillion (USD22.5 billion) in 2014 to Rp665.02 trillion (USD42.5 billion) this year.
In terms of offering social protection, the budget has been channeled to finance social assistance, including distributing food to help residents survive the negative impacts of the global heat phenomenon El Nino, she stated.
Indrawati highlighted that the government had also made budget allocations in the health sector to improve the quality and accessibility of health services, including through the National Health Insurance (JKN) program that has assisted 96.6 million people.
"Those are the foundations we have been building in the last 10 years without maiming our state budget posture," she concluded.
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Translator: Imamatul S, Tegar Nurfitra
Editor: Rahmad Nasution
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