Saturday, 25 June 2022 | 11:24 WIB

MoF Discloses 2022 Macroeconomic Indicator Assumptions at House Plenary Session

MoF Discloses 2022 Macroeconomic Indicator Assumptions at House Plenary Session (antaranews)

JAKARTA, NETRALNEWS.COM - Indonesian Minister of Finance Sri Mulyani Indrawati has disclosed the macroeconomic indicators as the basis for the preparation of the 2022 State Revenue and Expenditure Budget Bill which was submitted to the Indonesian House of Representatives.

"The Indonesian government is proposing a range of macroeconomic indicators for the preparation of the 2022 State Budget Draft Bill," Sri Mulyani said at the House of Representatives Plenary Delivery of the Macroeconomic Framework and Fiscal Policy Principles of the 2022 Draft State Budget in Jakarta, Thursday.

Sri Mulyani said the proposal included economic growth in the range of 5.2-5.8 percent, and inflation of around 2-4 percent. The 10-year government securities (SUN) interest rate is in the range of 6.32- 7.27 percent, while the rupiah exchange rate is at IDR13,900-IDR15,000 per US dollar.

Furthermore, Indonesian crude oil prices are presented at 55-65 US dollars per barrel, oil lifting of 686,000-726,000 barrels per day, and natural gas lifting of 1.031 million - 1.103 million barrels of oil equivalent per day.

Meanwhile, fiscal policy in 2022 will be carried out in an effective, prudent, and sustainable manner with state revenues targeted to increase to the range of 10.18-10.44 percent of GDP.

State spending will reach the range of 14.69-15.30 percent of GDP, and the primary balance will begin to move towards positive in the range of minus 2.31 to minus 2.65 percent of GDP.

The deficit will be reduced to a level of minus 4.51 to minus 4.85 percent with the debt ratio under control in the range of 43.76-44.28 percent of GDP.

In addition, the acceleration of economic growth will create job opportunities so that the open unemployment rate can be reduced to the range of 5.5 to 6.2 percent.

The poverty rate will be in the range 8.5-9 percent, the Gini ratio will range from 0.376 to 0.378, and the Human Development Index will go up to a range from 73.44 to 73.48.

The Farmer Exchange Rate (NTP) and Fishermen Exchange Rate (NTN) is also raised higher to reach a range of 102-104 and 102-105, respectively.

Sri Mulyani emphasized that the government and the public must remain optimistic and must not give up in the midst of this recovery condition to bring about sound and effective fiscal management.

"This is done in order to support sustainable and equitable economic growth," said Minister of Finance Sri Mulyani, as reported by Antara.