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World Bank lauds Indonesia’s fiscal framework

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THE WORLD BANK has called Indonesia’s fiscal framework “solid”, saying it has contributed to improving the credibility of the country.

“Fiscal management in this country has improved substantially over the last year, quite substantially,” Rodrigo Chaves, World Bank country director for Indonesia, said on Sunday at an Idul Fitri celebration at Finance Minister Sri Mulyani Indrawati’s official residence in Jakarta.
Chaves said the government’s construction of a solid fiscal framework had led to 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 per cent, most likely between 2.5 per cent to 2.6 per cent this year. So [the] fiscal [framework] is well ordered and well managed,” he said. Sri Mulyani, a former World Bank managing director, held an open house on the first day of Idul Fitri, known as Eid al-Fitr elsewhere in the Muslim world, the holiday marking the end of Ramadan.
Chaves was among nearly 200 guests who 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.

Published : June 26, 2017