"I conveyed the importance of not only understanding 'what' is the ideal fiscal policy but also ‘how’ the effective way to implement it,” Sri Mulyani stated on her Instagram account.
During the meeting, 10 ASEAN member states along with China, Japan, and South Korea discussed ways to strengthen fiscal policy as an essential instrument for every country to realize its development aspirations.
A study conducted by ASEAN+3 Macroeconomic Research Office (AMRO) found that fiscal policies in each member state play a significant role in driving national growth while maintaining fiscal sustainability.
Each country's domestic situation must also be taken into consideration.
The minister affirmed that learning from other countries’ experiences in addressing domestic challenges can be key to achieving sustainable economic stability and growth.
Hence, learning from other countries' experiences in dealing with domestic challenges can be the key to achieving stability and sustainable economic growth.
The forum among the finance ministers of ASEAN+3 countries also featured presentations on China’s approach to regional government debt restructuring and Vietnam’s success in improving the PISA score through effective education spending.
Amid global uncertainty driven by trade tariff protection, Sri Mulyani noted that the ASEAN+3 forum is making rapid progress and serving as a model for the world in implementing effective policy practices.
"I also express my appreciation to Malaysia and China for their chairmanship during these dynamic times. Hopefully, our cooperation under the ASEAN+3 can continue to be improved for the welfare of all member countries," she affirmed.
On the sidelines of the ASEAN+3 finance ministers' meeting, Sri Mulyani met with her Chinese counterpart, Lan Fo’an.
The meeting follows the previous discussion between the two during the sidelines of the IMF-World Bank Spring Meetings in Washington, D.C.
"I told him about the negotiations and cooperation offered by Indonesia in order to respond to and understand the implementation of the US’ reciprocal tariff policy,” she noted.
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Translator: Imamatul Silfia, Yashinta Difa
Editor: Yuni Arisandy Sinaga
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