Indonesia’s budget deficit and debt issuance closed well below targets in 2021, paving the way for an upcomi ng fiscal consolidation as the economy rides out the COVID-19 pandemic.
Indonesian Finance Minister Sri Mulyani Indrawati (Photo: Jakarta Post)
Hanoi (VNA) – Indonesia’s budget deficit and debt issuance closed well below targets in 2021, paving the way for anupcoming fiscal consolidation as the economy rides out the COVID-19pandemic.
Indonesian Finance Minister Sri Mulyani Indrawati said on January 3 thatthe 2021 budget deficit was at 783.7 trillion rupiah (54.92 billion USD), or4.65 percent of the gross domestic product (GDP).
Debt issuance closed at 867.4 trillion rupiah, or86.3 percent of the 2021 target. The debt is 30 percent lower than in 2020 whenissuance jumped to fund COVID-19 relief programmes.
These bring the government closer to reinstating abudget deficit cap of 3 percent of the GDP by 2023 as required by prevailingregulations.
The minister attributed the increase in Staterevenue to Indonesia’s economic recovery, which translated to higher income taxrevenue from employees and corporations, and higher value-added tax (VAT)revenue from consumed and imported goods and services.
In 2022, the government will spend more ondeveloping the upcoming new capital city in East Kalimantan and preparing forthe 2024 general elections. It will also allocate a PEN budget for thethird year in a row, but at 414 trillion rupiah, which is 44 percentsmaller than last year.
ꩲ The Finance Ministry plans to focus on executingthe second tax amnesty, which was introduced under the Harmonized Tax Lawpassed last year./.
Indonesia will commence administering the third dose or booster shot on January 12, 2022, according to Airlangga Hartarto, chairman of the COVID-19 Handling and National Economic Recovery Committee (KCP-PEN).
Indonesia's Ministry of Energy and Mineral Resources has banned coal export from January 1-31 on all exporters holding IUP (Mining Business Licence), IUPK Production (Operation Special Mining Business Licence) and PKP2B (Concession Agreement), informed the Vietnam Trade Office in Indonesia.
Indonesian President Joko Widodo has agreed to allocate 14.1 trillion rupiah (over 985 million USD) for four new schemes within the framework of the 2022 National Economic Recovery Programme.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Indonesian Finance Minister Sri Mulyani Indrawati (Photo: Jakarta Post) 
