Budget revision<\/p>\n
The interference by the IMF in the budget management to be
\nfixed at Rp 53 trillion or at 3.7 percent of the Bruto Domestic
\nProduct and its recommendations to adjust to the changes, such as
\nthe rupiah rate against the U.S. dollar, should be accepted as
\nonly natural in view of Indonesia's long term dependency on the
\nIMF.<\/p>\n
Why there has been a mix-up with the House of Representatives
\n(DPR) that believes it has not been properly consulted, in fact
\neven by-passed, is something very hard to understand. The
\nlegislators complain that the DPR's controlling function has been
\nignored and they have demanded an explanation from both the
\ngovernment and the IMF.<\/p>\n
However urgent the budget revision has become due to the time
\nfactor, the government also faces the problem of how the revision
\nshould be done so as not to disturb the socio-economic front such
\nas withdrawing subsidies or raising taxes.<\/p>\n
When it looked as if the government and the IMF had reached an
\nagreement and the disbursement of the US$400 million loan seemed
\nimminent, the IMF team abruptly stopped negotiations and left the
\ncountry to return only when the budget revision has taken place.<\/p>\n
While the government is ready to strike a deal the IMF, as
\nearlier reports have suggested, the DPR is not satisfied with the
\ncurrent state of affairs.<\/p>\n
The fiscal crisis is looming. Whatever measures the government
\ntakes including accepting new foreign loan commitments, these
\nwill likely do little to improve the long term conditions.<\/p>\n
GANDHI SUKARDI<\/p>\n
Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/budget-revision-1447899208", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }