February 16, 2021 | Invest Indonesia

Sri Mulyani Raises Economic Recovery Budget in 2021 to Rp688.33 Trillion

Source from: Tempo

Original News HERE

Finance Minister Sri Mulyani Indrawati said Indonesia allocated a budget of Rp688.33 trillion for the 2021 National Economic Recovery this year. The figure was increased from the projection on February 5, 2021, of Rp627.9 trillion.

“This shows a significant increase in the health sector compared to the 2020 budget, which was Rp579 trillion,” said Sri in a live broadcast on Monday, February 15.

Sri explained that the budget allocation for the health sector last year was only Rp63.5 trillion, and this year’s figure jumped to Rp173.3 trillion. The budget includes costs for vaccinations and incentives for health workers.

On the other hand, the budget for social protection was decreased. Last year, the government spent around Rp220 trillion on the social safety net program. This year, the budget is only Rp150.21 trillion.

Meanwhile, the budget to support Micro, Small, and Medium Enterprises (MSMEs) and corporate financing increased to Rp187.17 trillion. “In 2020, the support was Rp173 trillion,” she added.

The budget for MSMEs was raised in a bid to expedite the economic recovery, she informed. Meanwhile, the budgets for business incentives and priority programs will be Rp53.86 trillion and Rp123.8 trillion this year, respectively.

“[The government] will accelerate priority programs, especially to rebuild tourism infrastructure, labor-intensive programs, and develop food security, connectivity, and information and communication technology (ICT),” said Sri Mulyani.

Editor: Markus Wisnu Murti
Translator: Dewi Elvia Muthiariny