Indonesia's economic instruments optimized to maintain domestic growth

Jakarta (ANTARA) - The Indonesian government will optimize all economic instruments at its disposal, from the State Budget to the Danantara Sovereign Wealth Fund, to preserve economic resilience and growth amid global uncertainties.

"All instruments, policies, regulations, and actions must be considered in detail and thoroughly to ensure effective economic progress and equitable and just prosperity for the people," Finance Minister Sri Mulyani Indrawati stated on her official Instagram @smindrawati, Tuesday.

The minister noted that the optimization of natural resources, state-owned enterprises, and human resources will also be pursued to maintain domestic economic performance.

Optimizing national economic instruments will create added value, strengthen competitiveness, and maintain economic resilience and sovereignty for Indonesia during the turbulent times caused by global dynamics and increasing competition between countries.

The strategy was also agreed upon by the government during a meeting with President Prabowo Subianto at the Merdeka Palace here on Monday (April 7), the minister added.

According to Indrawati, the government discussed ways to enhance collaboration between the government, state companies, the private sector, and the public to strengthen food and energy resilience during the meeting.

President Prabowo accentuated the need to set up a nationally oriented economic system focused on equitable development and prosperity for the people. He also emphasized the importance of competent, professional, and synergized natural resources development.

Affirmative actions in economic activities should also be carried out prudently and accountably with a strong determination to achieve its goals, the minister stated.

"This noble duty is surely full of challenges in its formulation, planning, and implementation. Nonetheless, we should not be deterred and afraid," she stressed.

One of Indonesia's current economic challenges is the 32-percent reciprocal import tariff imposed by US President Donald Trump last week, which may significantly affect Indonesian industries.

Coordinating Minister for Economic Affairs Airlangga Hartarto stated on Sunday (April 6) that instead of imposing a retaliatory tariff, the Indonesian government has chosen to use diplomacy to seek mutually beneficial solutions for both countries.