{
    "success": true,
    "data": {
        "id": 1413135,
        "msgid": "govt-to-adopt-calendar-year-budget-planning-1447893297",
        "date": "1999-11-22 00:00:00",
        "title": "Govt to adopt calendar year budget planning",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Govt to adopt calendar year budget planning JAKARTA (JP): Coordinating Minister for Economy, Finance and Industry Kwik Kian Gie said here on Saturday that the government has decided to start the next state budget based on the calendar year rather than the fiscal year used in the previous budget. Kwik said that the first calendar year budget will only be a nine-month budget because it would start in April and end in December. The current 1999\/2000 fiscal year state budget ends on March 31, 2000.",
        "content": "<p>Govt to adopt calendar year budget planning<\/p>\n<p>JAKARTA (JP): Coordinating Minister for Economy, Finance and<br>\nIndustry Kwik Kian Gie said here on Saturday that the government<br>\nhas decided to start the next state budget based on the calendar<br>\nyear rather than the fiscal year used in the previous budget.<\/p>\n<p>Kwik said that the first calendar year budget will only be a<br>\nnine-month budget because it would start in April and end in<br>\nDecember.<\/p>\n<p>The current 1999\/2000 fiscal year state budget ends on March<br>\n31, 2000.<\/p>\n<p>\"The budget in 2000 will start from April 1 until December<br>\n31,\" he said following a ceremony at the State Palace.<\/p>\n<p>The government has been considering using the calendar-year<br>\nbudget in a bid to simplify administration and government<br>\nplanning.<\/p>\n<p>The government wanted to reduce foreign borrowings in the next<br>\nbudget, he said, adding that the size of the reduction in foreign<br>\nborrowing was still being calculated.<\/p>\n<p>Kwik also said that the government and the International<br>\nMonetary Fund technical team were still discussing the various<br>\nassumptions to be used in the next state budget.<\/p>\n<p>He said that oil prices assumption may be put at between US$20<br>\nper barrel and $22 per barrel, as compared to $17 per in the<br>\ncurrent budget.<\/p>\n<p>World crude oil prices have increased above the $17 level to<br>\nover $20 per barrel in the last few months, making state revenues<br>\nfrom oil and gas exports higher than the initial estimate.<\/p>\n<p>He also said that inflation might be assumed at between 4<br>\npercent and 5 percent.<\/p>\n<p>Indonesia suffered a hyperinflation of more than 77 percent<br>\nlast year when the economic crisis, which started to hit the<br>\ncountry in August, 1997, deepened.<\/p>\n<p>But the government has managed to control inflation to low<br>\nlevels, and the full-year inflation level is estimated to be 0.12<br>\npercent, according to the Central Bureau of Statistics.<\/p>\n<p>Inflation is seen to increase as the economy continues to grow<br>\nnext year, and as the government may readjust subsidized<br>\ncommodities, including fuel.<\/p>\n<p>Kwik also said that the government has agreed to abolish<br>\nsubsidies but that it would only be done \"gradually\".<\/p>\n<p>Kwik said the government must find ways so that the removal of<br>\nthe subsidy would only affect wealthier people, not poor people.<\/p>\n<p>\"It must not be across the board,\" he said.(rei\/prb)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/govt-to-adopt-calendar-year-budget-planning-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}