Indonesia to take budgetary system lessons from S. Korea

The Indonesian government will send representatives to South Korea to learn more about the budgetary system, something that Indonesia has been recently struggling with, the Finance Ministry says.

“Korea has a good experience [with the budgetary system], especially after it has built an institute on performance-based budgeting,” Deputy Finance Minister Anny Ratnawati said Monday, as quoted by kompas.com.

She said that the program was an annual activity, in which the two countries talked and shared their experiences on various issues.

“This is a knowledge sharing program with South Korea that has been done annually in the last few years. The areas of discussions include the treasury and budgetary system,” she said.

She said that the program involved early discussions aimed toward agreements on annual grants given by South Korea to Indonesia for the improvement of the government’s budgetary system.

“Last year, we cooperated with South Korea in three areas: treasury, credit mechanisms and water resource management. We currently discussing the focus of this year’s cooperation,” she said.(awd)