She made this statement while delivering the scientific address at the graduation ceremony of the State Finance Polytechnic of the State College of Accountancy (PKN STAN) for the 2024/2025 Academic Year on Wednesday (November 5).
"We often focus solely on calculating costs, yet the benefits of research and science are far greater than we imagine. A 10 percent increase in research investment can boost economic growth by up to 0.9 percent in the long term," Stella Christie said in a statement received here on Thursday.
She emphasized that decision-makers could create far more impactful decisions if they are able to balance the calculation of costs and benefits in every public policy they implement.
The deputy minister provided examples of the economic impact of research in various countries. Stanford University, for instance, generates an annual economic benefit worth IDR 44 quadrillion (USD 2.7 trillion).
In China, she added, innovation and technology clusters contribute 13.4 percent of the national Gross Domestic Product (GDP), utilizing only 2.5 percent of the total construction land.
According to Stella, the key difference between middle-income and high-income countries lies in their investment in research and mastery of science and technology.
For example, in the United States, annual research funding reaches USD 102 billion, while Indonesia’s research budget is around USD 200 million, even though the national research budget has increased by 218 percent from the previous year under President Prabowo Subianto’s administration.
"Our nation must be able to calculate the long-term benefits of research and investments in Human Resources (HR)," Stella said.
During the same occasion, Minister of Finance, Purbaya Yudhi Sadewa, stated that the Ministry of Finance would continue to support higher education in the field of finance to produce professionals capable of formulating impactful, people-oriented national policies.
"Congratulations to the graduates and their parents. Your long journey has reached the finish line. There will be many more finish lines in life, so never become complacent. Work with your heart," Purbaya said.
It is known that the PKN STAN 2025 graduation was attended by 991 graduates with a Bachelor's and Diploma III degree.
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Translator: Sean, Azis Kurmala
Editor: Primayanti
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