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World Bank lauds Indonesia’s fiscal framework
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A view of the Jakarta skyline. At an Idul Fitri open house event on Sunday, World Bank country director for Indonesia Rodrigo A. Chaves said the government’s construction of a solid fiscal framework had led to global credit rating agency S&P Global Ratings’ recent upgrade of Indonesia’s sovereign rating to investment level. (Bloomberg/File)
T
he World Bank has lauded Indonesia’s fiscal framework, calling it “solid” and saying that it has contributed to improving the credibility of the country.
“Fiscal management in this country has improved substantially over the last year, quite substantially,” World Bank country director for Indonesia Rodrigo A. Chaves said on Sunday at an Idul Fitri celebration at Finance Minister Sri Mulyani Indrawati’s official residence at the Widya Chandra ministerial housing complex in South Jakarta.
Chaves said the government’s construction of a solid fiscal framework had led to global credit rating agency S&P Global Ratings’ recent upgrade of Indonesia’s sovereign rating to investment level.
“As minister [Sri Mulyani] and many other observers have said, the budget deficit will remain below 3 percent, most likely between 2.5 percent to 2.6 percent this year. So, [the] fiscal [framework] is well ordered and well managed,” Chaves said.
Sri Mulyani, a former World Bank managing director, held an open house event on the first day of Idul Fitri.
She arrived at 11:26 a.m. after attending an Eid prayer event and greeting tax officials at the Taxation Directorate General headquarters.
Chaves was among nearly 200 guests that paid a visit during the open house.
Some other guests were the ministry's secretary-general Hadiyanto and Indonesian Chamber of Commerce and Industry (Kadin) chairman Rosan Perkasa Roeslani. (tas)
