Finance Minister, Businesses Call for Productive Spending from State Budget

The government's hefty spending over the past three months has made fiscal stabilization efforts highly challenging. Some hope that the surge in spending, which is considered to be a populist policy, will soon be shifted to productive sectors to accelerate economic growth.

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26 Mar 2024 - 21.13
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Finance Minister, Businesses Call for Productive Spending from State Budget

(Foto Bisnis)

Bisnis, JAKARTA - The government's hefty spending over the past three months has made fiscal stabilization efforts highly challenging. Some hope that the surge in spending, which is considered to be a populist policy, will soon be shifted to productive sectors to accelerate economic growth.

Indonesia’s fiscal room for the year 2024, which ended on March 15th, has become increasingly limited due to spending outweighing outstanding revenues.

Almost all revenue items in the 2024 state budget experiencing declines, including taxes, duties and excises, as well as non-tax state revenues (PNBP). 

Meanwhile, the spending splurge in the last three months has indeed boosted consumer consumption, especially among lower-income classes, through both cash and non-cash direct assistance.

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Editor: Nindya Aldila
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Finance Minister, Businesses Call for Productive Spending from State Budget

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