Bisnis, JAKARTA — As the 2024 election year approaches, the government is preparing a hefty social protection budget which includes social assistance funds for 2024.

Finance Minister Sri Mulyani Indrawati announced that the budget for social protection or ‘perlinsos’, as outlined in the Draft State Budget, nearly amounts to IDR500 trillion.

“Social protection [budget] next year will reach IDR493.5 trillion, which is nearly equivalent to the exceedingly high IDR498 trillion during the Covid-19 pandemic,” she stated during the Press Conference: 2024 Draft State Budget and Financial Note on Wednesday (8/16/2023).

The social protection budget for 2024 has grown by 12.4 percent from the estimated realization in 2023 at IDR439.1 trillion. Sri Mulyani explained that the higher budget allocation during Jokowi’s second term reflects a commitment to reducing extreme poverty and supporting the 40 percent and lower income groups.