Indonesia To Continue Building Strong Economic Foundation: Finance Minister

TheIndonesia.id - The government will strive relentlessly to establish a resilient economic foundation in the 2024 political year in pursuit of transforming Indonesia into a developed nation, Finance Minister Sri Mulyani Indrawati affirmed.

"In 2024, a political year, we will continue to focus on completing various tasks for the sake of establishing a foundation that will support Indonesia to become a high-income country in 2045," she remarked on Thursday, 23 November, 2023.

As published by Antara, Indrawati made the statement in her speech during an event titled "Political Celebration and Direction of Economy and Business in 2024" in Jakarta.

In order to build a strong economic foundation, she affirmed that the Indonesian government tenaciously endeavors to overcome fundamental issues that could pose a hindrance to fulfilling its ambition to become a developed country by 2045.

The issues include the need to further enhance the quality of the country's human resources and conduct more infrastructure development, with the aim of boosting national productivity, she elaborated.

She then drew attention to the need for Indonesia to continue to increase added value for industries while creating a more enabling investment climate by streamlining regulations and simplifying bureaucratic processes.

The state treasurer expressed belief that by overcoming all issues, Indonesia will succeed in transforming into a high-income country.

Indrawati further noted that the Ministry of Finance is committed to taking various measures for stabilizing the national economy in tandem with establishing the required foundation.

Furthermore, the government has been implementing comprehensive structural reforms, with the objective of boosting Indonesia's productivity, investment, and export competitiveness.

"We continue to execute reforms. In the field of taxation, we have devised laws whose provisions will take effect this year and next year," she noted.

Indrawati then highlighted the importance of implementing the Fiscal Relations between Central Government and Regions (HKPD) Law to synchronize and harmonize the spending of central and regional governments and improve the quality of regional spending.

The minister also drew attention to the Financial Sector Development and Strengthening (P2SK) Law, saying that its implementation is crucial to reform Indonesia's financial sector in the hopes of elevating the living standards of its people.

"The laws have been formulated but their derivative provisions will only take effect in the period between this year's end and the next year. Hence, in the political year, we will continue striving to resolve fundamental issues," she concluded.