President Prabowo Subianto Orders Acceleration of Economic Programs

President Prabowo Subianto leads a limited meeting with several ministers of the Red and White Cabinet at the Merdeka Palace, Jakarta, on Tuesday (9/9). (Photo: BPMI of Presidential Secretariat)

President Prabowo Subianto Tuesday (9/9) at the Merdeka Palace, Jakarta chaired a limited meeting with several ministers of the Red and White Cabinet.

The meeting focused on measures to accelerate government programs aimed at boosting national economic growth.

Speaking to reporters after the meeting, newly-elected Minister of Finance Purbaya Yudhi Sadewa stated the Government is committed to accelerating the implementation of the planned development programs, emphasizing the importance of optimizing current policies so their impact can be felt by the public in the near future.

“The current policies have not been running smoothly. During the meeting, we agreed to accelerate their implementation as an initial step. With this, the economy is expected to grow faster,” Purbaya said.

The Minister also underscored the Government’s commitment to keeping the fiscal deficit within the legal limit of a maximum of 3 percent.

“We will adhere to the existing law. This is not my personal decision but the Government’s, and we will fully comply with it,” he said.

Purbaya also rejected the notion saying that a State Budget deficit would automatically trigger inflation, adding that Indonesia’s projected economic growth of 6.5 to 6.7 percent remains within safe limits.

“So, the State Budget’s deficit does not automatically cause inflation, nor does government spending. It does not work that way. We must also consider other aspects, including the economy’s capacity to generate growth,” he said.

Regarding additional stimulus, Purbaya stated that the Government is preparing to accelerate the implementation of existing programs to create more employment.

“That is the key – how quickly we can revive the economy to create more jobs. That will be our focus going forward,” he stated.

Purbaya also underscored the importance of synergy between fiscal and monetary policies, adding that he has held discussion with central bank Bank Indonesia to ensure that the policies implemented will not disrupt banking system liquidity. (BPMI of the Presidential Secretariat) (JAS/EP)