2022 State Budget: Fiscal Policy and Structural Reform
Tax Reform Strengthens The State Budget Function to Enhance
Social Welfare
The State Budget
as an instrument to realize fair and
prosperous society
$
ALLOCATION
Public Goods
DISTRIBUTION
Income
Redistribution
STABILIZATION
Economic Stability &
Growth
■ Over the last 10 years, state revenue
has been in downward trend to
around 10% of GDP
space.
limiting fiscal
■ In response to Covid-19 crisis, the
state budget is used as countercyclical
measures to tackle the health crisis,
provide lifeline support to poor and
vulnerable family and businesses, and
facilitate economic recovery.
Fiscal reform is aimed to strengthen
long-term fiscal sustainability to
facilitate comprehensive structural
reforms in order to enhance long-
term potential growth.
Source: Ministry of Finance
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