IN A SPECIAL FORUM HELD ON 14TH MAY 2024 TITLED “INDONESIA UPDATE: EXCLUSIVE DIALOGUE ON POLICY DEVELOPMENTS IN INDONESIA – UNLOCKING GROWTH OPPORTUNITIES AND THE FUTURE OF INDONESIAN FISCAL POLICY“ INDONESIAN AMBASSADOR TO SINGAPORE, H.E SURYO PRATOMO, EMPHASISED THE CLOSE TIES BETWEEN INDONESIA AND SINGAPORE.
IN front of approximately 20 Singaporean corporate leaders, the Indonesian Ambassador, Mr Suryo Pratomo, underscored the strong relationship between Indonesia and Singapore during the “INDONESIA UPDATE: Exclusive Dialogue on Policy Developments in Indonesia – Unlocking Growth Opportunities and the Future of Indonesian Fiscal Policy” forum on 14th May 2024.
The forum, initiated by the Financial and Customs Attaché of the Indonesian Embassy in Singapore and supported by the Trade Attaché and Investment Attaché, aimed to provide an overview of the evolution of Indonesia’s fiscal policy landscape and its implications for future governance.
During the event, Mr Pratomo referenced Prime Minister Lee Hsien Loong’s statement regarding Indonesia’s $60 billion investments in Singapore, highlighting the significant economic ties between the two nations. Additionally, he stressed the importance of fiscal policies in future governance.
Head of the Fiscal Policy Agency (BKF) Febrio Nathan Kacaribu, accompanied by, Head of the Center for Macroeconomic Policy (PKEM) Abdurohman, and Head of the Center for Regional and Bilateral Policy (PKRB) Yogi Rahmayanti, provided insights into the preparation of the 2025 APBN, with a draft scheduled for presentation on 16th August 2024.
As Mr Kacaribu emphasised the importance of maintaining fiscal discipline, keeping fiscal deficits below 3%, and ensuring policy continuity and sustainability, he highlighted the critical role of close communication with the upcoming President and their government in this process.
Amid Indonesia’s preparations for financial transition and budget planning in 2025, a focus on fiscal discipline, market discipline, and strategic spending will be crucial in driving sustainable economic growth.
Source: Indonesian Embassy in Singapore
