Inflation Control and Financial Facilities Strategy
Fiscal Policy Direction in 2021
Responding changes in economy, challenges, and support development targets
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
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