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According to the latest budget figures presented by Finance Minister Purbaya Yudhi Sadewa, the state budget deficit remains well below the full-year ceiling with just two months left in the calendar year, which the minister attributes to fiscal discipline.
A new regulation allowing regional administrations and region- or state-owned enterprises (SOEs) to borrow money from the central government entails opportunities for local authorities but also poses risks to fiscal discipline, economists say.
Following the furor over the recent cut to the regional transfers scheme, the government could turn crisis into opportunity by trialing its fiscal decentralization move as a managed, monitored and measurable policy lab.
