President Prabowo Highlights Successful Management of 2024 State Budget Amid Global Economic Pressures
Jakarta, The Gulf Observer: President Prabowo Subianto announced that the implementation and realization of Indonesia’s 2024 State Budget have been successfully managed, despite ongoing global economic uncertainties and challenges.
At a press conference on Tuesday, President Prabowo emphasized that the state finances had been handled with prudence, wisdom, and caution, enabling the government to maintain control over its deficit within a manageable and careful range. “It turns out that we can still manage state finances prudently, wisely, and carefully, and we are still able to control our deficit within a corridor that is still quite careful,” he stated.
The President confirmed that cash management for the 2024 State Budget would officially close at 00.00 Western Indonesia Time (GMT+7) on Wednesday, January 1, 2025.
During a meeting with Finance Minister Sri Mulyani Indrawati and other key ministers, President Prabowo was briefed on state revenues, including taxation, customs, and non-tax state revenues. Despite the global pressures impacting commodity prices, including oil and gas, the government managed to navigate state finances effectively.
Minister Indrawati reported that, as of November 2024, the State Budget faced a deficit of Rp401.8 trillion, or 1.81% of the country’s Gross Domestic Product (GDP). However, the primary balance recorded a surplus of Rp47.1 trillion, a positive outcome despite the challenges.
As of the latest exchange rate, US$1 equals Rp16,199.
The government’s careful approach to managing the State Budget amidst global pressures demonstrates its ability to ensure financial stability while addressing the needs of the nation.
