Minister of Finance: Targets State Revenue to Increase by 12 percent in 2024

Armfalcon.com, JAKARTA — The government is targeting state revenue to increase by 11.08-12.38 percent of gross domestic product (GDP) next year. This target is in line with estimates in the range of 13.97-15.01 percent of gross domestic product.

Minister of Finance Sri Mulyani said the 2024 state revenue and expenditure budget policies were directed at supporting revenue optimization, digital economic transformation, maintaining the investment climate, and the sustainability of the business world and the environment.

“State spending is in the range of 13.97 to 15.01 percent of GDP. Thus, the primary balance will continue to move towards a balanced and positive range between a deficit of 0.43 percent and a surplus of 0.00 percent of GDP,” he said during the DPR Plenary Meeting. , Friday (19/5/2023).

Sri Mulyani revealed the strategy that the government will adopt to encourage more innovative, wise and sustainable financing. First, support expansionary, targeted and measurable fiscal policies to support economic transformation.

Second, controlling the deficit and debt within safe and sustainable limits. Third, encourage the effectiveness of investment financing by empowering BUMN, sovereign wealth funds, special mission vehicles and Public Service Agencies (BLU).

Fourth, strengthening fiscal resilience in the midst of global uncertainty by preparing a reliable and credible fiscal cushion. Fifth, support investment financing by strengthening Indonesia’s role in international forums.

Finally, encourage acceleration of financing for low-income communities, MSMEs, and encourage creative and innovative financing through cooperation between the government and business entities.

“This was prepared taking into account the developments, challenges and dynamics of the global and domestic economy. The challenges and risks that we must face, and the development targets that we continue to strive to achieve,” he said.