Structural Reforms to Improve Economic Foundations: Sri Mulyani

Minister of Finance Sri Mulyani Indrawati (Photo by: Ministry of Finance PR).

In a bid to improve economic foundations of Indonesia, the Government will carry out structural and bureaucratic reforms, Minister of Finance Sri Mulyani Indrawati has said.

“If other countries are only busy dealing with COVID-19, we are also busy carrying out economic recovery and structural reforms as well,” Sri Mulyani said in her keynote speech at the CNBC Indonesia Webinar adopting the theme “Financial Sector Discussion” (via video conference) on Tuesday (10/11).

Quoting President Joko “Jokowi” Widodo, the Minister said the Government must prioritize five things for structural reforms, namely human capital development, infrastructure development, deregulation, de-bureaucratization, and economic transformation.

According to Sri Mulyani, the Job Creation Omnibus bill that has been passed into Law is one of the Government’s efforts for economic recovery and structural reforms. The newly-passed Law, she added, has received many positive views from rating agencies and multilateral institutions such as Moody’s, Fitch Ratings, ADB, and the World Bank.

The said institutions are believe that the Omnibus Law enactmentand structural reform policies are serious attempts by the Indonesian Government to improve investment climate, provide more job opportunities, and pay more attention to the environment.

“I hope the optimism and hard work will also be shared by all market players so that we can take this opportunity to place Indonesia as a stable emerging market and the one that keeps moving forward,” she concluded. (Ministry of Finance PR/UN)

Translated by: Galuh Wicaksono
Reviewed by: Lulu Wuliarti