A meeting of Indonesia's House of Representatives (Photo: Antara) Jakarta (VNA) – Indonesia’s Houseof Representatives passed the 2020 state budget on September 24, focusing onfive prioritised fields, to avoid an economic downturn amid a risk of recessionin developed economies and a global trade war.
In the 2020 state budget, the country’sgovernment and the House agreed to set the budget deficit at 307.2 trillion IDR(21.8 billion USD), equal to 1.76 percent of gross domestic product.
Meanwhile, the state expenditure wastargeted to be 2.54 quadrillion IDR, an 8.5 percent increase from the 2019 estimate.The state revenues targeted in the 2020 state budget would be 2.2 quadrillionIDR.
Indonesian Finance Minister Sri MulyaniIndrawati said the 2020 state budget would primarily focus on improving thequality of the country’s human resources through strengthening the educationsystem and providing training assistance.
The Indonesian government will expand itscash assistance programme from school students to university students andgraduates, she said.
It will also give priority to thedevelopment of infrastructure, and incentives to improve competitiveness inhuman resources-based vocational, research and development activities.
The next priority is strengthening fundtransfers to regions for equitable development throughout the archipelago.
The fifth priority involves boostingendowment funds in the education sector to improve human resources, promotenational culture, develop research and improve the quality of tertiaryinstitutions.
The budget is based on projected economicgrowth of 5.3 percent and an inflation rate of 3.1 percent, while the rupiahexchange rate is assumed at 14,400 to the US dollar and energy production at1.19 million barrels of oil equivalent per day./.
In the 2020 state budget, the country’sgovernment and the House agreed to set the budget deficit at 307.2 trillion IDR(21.8 billion USD), equal to 1.76 percent of gross domestic product.
Meanwhile, the state expenditure wastargeted to be 2.54 quadrillion IDR, an 8.5 percent increase from the 2019 estimate.The state revenues targeted in the 2020 state budget would be 2.2 quadrillionIDR.
Indonesian Finance Minister Sri MulyaniIndrawati said the 2020 state budget would primarily focus on improving thequality of the country’s human resources through strengthening the educationsystem and providing training assistance.
The Indonesian government will expand itscash assistance programme from school students to university students andgraduates, she said.
It will also give priority to thedevelopment of infrastructure, and incentives to improve competitiveness inhuman resources-based vocational, research and development activities.
The next priority is strengthening fundtransfers to regions for equitable development throughout the archipelago.
The fifth priority involves boostingendowment funds in the education sector to improve human resources, promotenational culture, develop research and improve the quality of tertiaryinstitutions.
The budget is based on projected economicgrowth of 5.3 percent and an inflation rate of 3.1 percent, while the rupiahexchange rate is assumed at 14,400 to the US dollar and energy production at1.19 million barrels of oil equivalent per day./.
VNA
