Investor Presentaiton

Expansive and Consolidative Fiscal Policy Direction in 2021 Responding challenges in the economy, Accelerating Recovery and Strengthening the Reform Effort ACCELERATING ECONOMIC RECOVERY AND STRENGTHENING REFORM EFFECTIVENESS OF CONTROLLING COVID-19 Expansive ACCELERATION ECONOMIC RESTORATION (PEN) EXIT STRATEGY MIDDLE INCOME TRAP Macro Assumption 2021 COVID-19 Handling State Budget Economic Growth (%) Inflation (%, yoy) 5.0 3.0 Exchange Rate (Rp/US$) 10-year Govt Bond (%) 14,600 7.29 ICP (Oil Price) (US$/barrel) 45 Oil Lifting (thousand barrel/day) 705 Gas lifting (thousand barrel equivalent oil /day) 1,007 Source: Ministry of Finance Consolidative ANTICIPATING UNCERTAINTY Economic Growth Driver 2021 FISCAL FLEXIBILITY (PRUDENT & SUSTAINABLE) ■COVID-19 handling including the Vaccine Availability in 2021 Expansive Fiscal to Support Continuation of Economic Recovery Support from demand side by strengthening social assistance and cash transfer ■Support from supply side by focusing on tax incentive, providing credit and guarantee for MSME and corporation Accelerating Reform OL in Job creation: fundamental change by addressing overlapping regulations and improving Indonesia's investment climate Budget Reforms: spending better approach, result oriented, efficiency, as well as risk mitigation ■SWF: The flexibility and ability to setting-up fund in relevant authorities in central government and attracting the investors Global Economic Growth Improving global economic growth particularly major trading partners 71

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