THE Government of Indonesia proposes a range of economic growth of 4.5-5.5% as one of the bases for the preparation of the State Budget and Revenue Bill (RUU APBN) in 2021.
According to Minister of Finance, Sri Mulyani Indrawati at the House of Representatives (DPR RI) Plenary Session in Jakarta on Tuesday said the proposed macroeconomic indicators consider the risks and uncertainties related to the current outbreak of COVID-19 and are expected to affect 2021.
In addition to economic growth, other macroeconomic indicators as the basis for the preparation of the 2021 Draft State Budget are inflation ranging from 2.0-4.0 percent, then the 10-year SBN interest rate which is 6.67-9.56 percent.
Furthermore, the rupiah exchange rate is estimated to be in the range of IDR14,900-15,300 per US$, the price of Indonesian crude oil reaching around US$40-50 per barrel. Then, oil lifting reached 677-737 thousand barrels per day and natural gas lifting ranges from 1,085-1,173 thousand barrels of oil equivalent per day.
The Minister of Finance continues that fiscal policy in 2021 will be in line with the government’s work plan namely accelerating economic recovery and social reform.
The focus is on industrial recovery, tourism, investment, national health system reform, and social safety nets and disaster resilience system reforms.
“This development focus is expected to be able to revive the national economic engine that faces the challenges of COVID and in the momentum of growth,” she concluded. [antaranews/photo special]