Finance minister, Sri Mulyani Indrawati, officially sent the revision of 2020 State Budget to House of Representatives today (04/02) - Photo by Finance Minister Office

JAKARTA (TheInsiderStories) – Finance minister, Sri Mulyani Indrawati, officially sent the revision of 2020 State Budget to House of Representatives today (04/02). At the meeting with the parliament, she handed offer the president letter regarding the revision to the chairwoman, Puan Maharani.

“I hope the 2020 State Budget bill can be discussed and approved by the parliament in the short time,” she told reporters at the parliament building in Jakarta.

Maharani responded, that the government should harmonize policies related the widening of the deficit, so that it could be used in accordance with the needs and the capabilities of the country’ financial conditions. She also reminded the government to always coordinate with Bank Indonesia, the Financial Services Authority, and the Deposit Insurance Agency in maintaining financial system stability, in the face of the impact of COVID-19.

Yesterday, Indrawati sees Indonesia’ economic growth could contraction 0.4 percent to 2.3 percent in this year. Initially the government targeting the GDP growth could reached 5.3 percent in this year.

“We and BI (Bank Indonesia) predicts that economic growth this year could be in the range of -0.4 to 2.3 percent because household consumption is only 1.6 – 3.2 percent, investment is estimating dropped from 6 percent can be negative, exports are also expected to be negative because imports have increased,” she told media through a video conference on April 1.

President Joko Widodo has signed the presidential decree number 1 of 2020 to accommodated the plans  The regulations in lieu is needed by the government to readjust the existing bill.

He also proposed, the government regulating the 2020 State Budget law and individual and corporate income tax act to accommodates the government needs to run the economic stimulus during the pandemic.

“The 2020 state budget will surely undergo a major change, especially macro assumption. What we discussed with the parliament was to prepare rules in situations of urgency. That is why the government can propose regulations to replace the 2020 State Budget law,” said the minister.

Written by Staff Editor, Email: theinsiderstories@gmail.com