Finance Minister Unveils Seven Priority Agendas for G20 Presidency Finance Track
Date 14 September 2021
Minister of Finance Sri Mulyani unveiled seven priorities for finance track deliberation of the 2022 Indonesia’s G20 Presidency.
“The first and most important, the G20 countries will discuss coordination to restore the global economy,” the Minister said virtually in a joint press conference on the Indonesia’s Presidency at the 2022 G20, Tuesday (14/09).
“We will discuss on when the countries will, especially those in the G20, all of which implement extraordinary fiscal and monetary policies, will carry out the exit policies, reduce extraordinary and definitely unsustainable macro policies gradually and in a coordinated manner, so that economic growth in each country and global economic growth will be sustainable. It’s not easy because every country has different conditions,” she said.
The second agenda will discuss the scarring effects on the economy due to the COVID-19 pandemic. “We will also discuss productivity and economic recovery, as well as how the policies are designed,” the Minister said.
The third and fourth agendas will discuss Central Bank Digital Currency (CBDC) and sustainable finance, respectively.
“We will discuss Green Finance Facility, including how to stimulate or support the fiscal sector to create economic transformation towards a green and sustainable economy. It will also discuss how Digital Infrastructure Regulation can elevate leverage and mobilize private sector investment,” she explained.
The fifth agenda will discuss cross-border payment. This issue is vital in terms of the development of the payment system along with the development of technology and the digital economy, she added.
The G20 member countries will also discuss financial inclusion, small-scale business credit development, and digitalization of micro, small and medium enterprises (MSMEs). “This is an extremely important topic for Indonesia and is also relevant and will be a priority in the deliberation of the G20 finance track,” said the Minister.
Finally, the member countries will also discuss progress and implementation of the approval and development of global taxation principles, she said, adding that they will discuss tax incentives, tax and digitalization, tax avoidance, tax transparency, tax and development, as well as tax certainty.
The Minister also underlined that the Government will continue to maintain the national interest and the interests of other developing countries to gain benefits in the economic sector as well as in the field of taxation. (TGH/UN) (FI/MUR)