President Jokowi Calls for Realization of 2024 State Budget from Early Year

Vice Minister of Finance Suahasil Nazara delivers a press statement, at the State Palace, Monday (12/11). (Photo by: PR of Cabinet Secretariat/Rahmat)

President Joko “Jokowi” Widodo Monday (12/11) called on ministries/Government institutions to start the 2024 budget realization of the State Budget (APBN) from the beginning of the year.

The statement was reiterated by Vice Minister of Finance Suahasil Nazara after joining a plenary cabinet meeting, at the State Palace, Monday (12/11).

“The President reminded all on the importance of price stabilization and preparation towards APBN in 2024 that the budget absorption must be realized starting from the beginning of next year,” he said.

The President, he added, also ordered ministers/heads of institutions to ensure the realization of the APBN for 2023 Fiscal Year to reach 95 percent given that there are two weeks left until the end of this year.

The Minister also confirmed that the Finance Ministry will speed up implementation of transfer to regions until the end of 2023.

“We predict there will be transfer [to region] and hopefully it can help the regional government to maximize budget absorption in 2023 and bring maximum benefits to our economic growth,” he said.

On that occasion, Suahasil expressed hope that Indonesia’s economy can grow to around 5 percent by the end of 2023.

Regarding inflation, the Government is paying special attention to food price inflation though Indonesia’s inflation is still maintained at the level of 2.9 percent.

“Demand for food products usually increases approaching the end of December, around Christmas and New Year. We particularly pay close attention to the price of several food commodities. We have also ensured stock of rice, corn, and other commodities,” he said. (TGH/UN) (RAS/MUR)