Gov’t Announces Five Key Fiscal Policy Priorities for 2022

By : Nata Kesuma | Monday, May 24 2021 - 22:00 IWST

Minister of Finance Sri Mulyani Indrawati delivered speech at the House of Representatives Plenary Meeting (20/05/2021). (Photo by: PR of Ministry of Finance/Bayu)
Minister of Finance Sri Mulyani Indrawati delivered speech at the House of Representatives Plenary Meeting (20/05/2021). (Photo by: PR of Ministry of Finance/Bayu)

INDUSTRY.co.id - Minister of Finance Sri Mulyani Indrawati Thursday (20/05) delivered the Government’s Introduction and Statement on the Macroeconomic Framework and Principles of Fiscal Policy (KEM-PPKF) in the fiscal year of 2022 before the 18th House of Representatives Plenary Meeting in Jakarta.

“The 2020 fiscal policy focuses on Economic Recovery and Structural Reform that goes hand in hand with the Government’s 2022 working plan by strengthening socio-economic recovery as the foundation to optimally support the implementation of structural reforms,” Sri Mulyani said.

There are five main priorities of the 2020 fiscal policy.  They are as follows:

First, the fiscal policy aims to continue measures to strengthen economic recovery, while prioritizing health sector, especially COVID-19 handling as the key of national economic recovery.

Second, the fiscal policy aims to maintain sustainability of social protection programs in order to strengthen the foundation of social welfare, prevent rise in poverty and vulnerability of those affected by COVID-19, and empower MSMEs and businesses.

Third, the fiscal policy aims to support productivity and human resources quality improvement through improving quality of education, strengthening integrated and reliable health systems, and strengthening social protection.

Fourth, the fiscal policy aims to optimize state revenues, including taxation, spending better programs, and financing innovation in order to consolidate the fair and sustainable state budget policy.

Fifth, all these four aspects above must be followed by the strengthening institutions and regulation simplification through bureaucratic reform and consistent implementation of Job Creation Law.

For the record, the optimization of the 2022 fiscal policy implementation is also a key priority as stated in Law No. 2 of 2020 on State Financial Policy and Financial System Stability for Handling Covid-19 Pandemic.

With the acceleration of economic recovery, structural reform measures, and fiscal reform, the 2020 fiscal policy is expected to be more effective, prudent, and sustainable.

“Amid recovery condition, we have to remain optimistic and keep up the spirit. We also have to be committed to providing favorable and effective fiscal management in order to support sustainable economic growth,” Sri Mulyani remarked.

News Comment

Today's Industry

NORD-DuoDrive.jpg: The innovative and patented DuoDrive geared motor reaches outstanding system efficiency Image: NORD DRIVESYSTEMS

Selasa, 17 Mei 2022 - 14:00 WIB

NORD DRIVESYSTEMS at LogiMAT in Stuttgart From 31st May to 2nd June 2022 NORD will present innovative drive solutions for intralogistics

The specialist LogiMAT exhibition in Stuttgart offers as comprehensive overview of the intralogistics and process management market. As one of the market leaders for drive technology, NORD presents…

President Jokowi attends the meeting between ASEAN leaders and American entrepreneurs at Intercontinental the Willard Hotel, Washington DC, Thursday (05/12). Photo by: Laily Rachev

Selasa, 17 Mei 2022 - 13:00 WIB

President Jokowi Invites US CEOs to Boost Cooperation with Indonesia

President Joko “Jokowi” Widodo has invited company CEOs in the United States to boost cooperation with ASEAN countries, particularly Indonesia.

President Jokowi, President Biden, and ASEAN Leaders on a group photo prior to the dinner, at the White House, Washington D.C., Thursday (05/12)

Selasa, 17 Mei 2022 - 12:28 WIB

President Jokowi, ASEAN Leaders Attend Dinner Hosted by US President

President Joko “Jokowi” Widodo Thursday (05/12) attended a dinner with the leaders of ASEAN countries hosted by President of the United States Joe Biden at the White House, Washington D.C.

(Photo: © 2022 KRAIBURG TPE)

Selasa, 17 Mei 2022 - 11:23 WIB

TPE unleashes benefits for pet accessories

The pet care market is rapidly expanding as pet ownership increases, as does spending on pet food, grooming tools, and accessories. Pet owners are significantly concerned about the prevalence…

Sergey Sedov, Founder and CEO of Robocash Group

Jumat, 13 Mei 2022 - 16:15 WIB

Robocash Group reached 2 BN USD of disbursement and issued audited financial report of 2021

Robocash Group publishes the audited combined financial statements for the year ended 31 December 2021. The Group reached an all-time high 2 BN USD of issued financing and is expected to increase…