Finance Minister to Consult with BPK on Emergency State in 2020 Budget

Minister of Finance Sri Mulyani. (Photo: Setkab)

In the light of declaration of state of emergency over coronavirus (COVID-19), priorities in the State Budget for 2020 will be revised. It will also be consulted with the Supreme Audit Agency (BPK) beforehand to prevent auditors’ findings in the future, according to Minister of Finance Sri Mulyani.

“We will maintain the governance and hope there will be no corruption since everyone will focus to handle the pandemic and protect the public and also business sector,” the Minister said.

She also confirmed that she had talked with the House of Representatives (DPR) and the BPK that the audit for the 2019 State Budget will be affected by the COVID-19 pandemic.

To date, the Minister said that Governor of Central Bank Indonesia and Chairman of the Board of Commissioners of the Financial Services Authority (OJK) continue to perform monitoring on liquidity needs, foreign exchange needs, the circulation of debt securities, and non-performing loan (NPL) that is predicted to increase.

“We are monitoring the whole situation by using protocol of 2008-2009,” she added.

BI and the OJK should also anticipate the impact of COVID-19 pandemic to the financial system including interest rate, exchange rate, and bad debt, as well as psychological sentiment. These elements must be included in the protocol.

“We have increased security level from caution (waspada) to standby (siaga) to adjust the Government’s response towards this dynamic development,” the Minister said adding that she will report the issue to the President, Vice President, and Coordinating Minister for Economic Affairs. (FID/EN)

Translated by : Rany Anjany S
Reviewed by: Mia Medyana B