House approves 2002 state budget<\/p>\n
Dadan Wijaksana, The Jakarta Post, Jakarta<\/p>\n
All ten factions of the House of Representatives unanimously
\napproved, at a plenary session on Wednesday, the government-
\nproposed 2002 state budget draft into law.<\/p>\n
The approval finally ended earlier speculation that the House
\nmight have delayed it until December, after the budget committee
\nhad extended the deadline for the completion of the budget debate
\nseveral times. The delay would have angered regional
\nadministrations, which are entitled to receive funding from
\nJakarta for next year's administrative expenditure.<\/p>\n
\"After long debate with the (House budget) committee, the bill
\nhas finally been approved,\" Minister of Finance Boediono said in
\nhis speech.<\/p>\n
\"This approval is very significant, as it provides a
\nconstitutional basis for the country's development
\nsustainability,\" he added.<\/p>\n
With a total state revenue of Rp 301.9 trillion (US$30
\nbillion) and state expenditure of Rp 344 trillion, the budget
\ndeficit for next year will be Rp 42.1 trillion, or equal to 2.5
\npercent of the country's gross domestic product (GDP).<\/p>\n
The government had previously proposed a budget deficit of Rp
\n43.03 trillion.<\/p>\n
The government first presented the bill to the House in
\nSeptember, but the global economic slowdown -- which has been
\naccelerated by the September attacks on the U.S -- has prompted
\nthe government to revise the budget's basic assumptions.<\/p>\n
The approved 2002 budget now assumes an average rupiah
\nexchange rate of 9,000 against the U.S. dollar, compared with
\n8,500 originally, while economic growth is expected to reach 4
\npercent (from 5 percent), inflation 9 percent (from 8 percent),
\nand the international oil price $22 per barrel (unchanged).<\/p>\n
Meanwhile, the proceeds target of the privatization program is
\nset at Rp 6.5 trillion, while the sale of assets under the
\nIndonesian Bank Restructuring Agency (IBRA) is expected to rake
\nin some Rp 48.2 trillion.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/house-approves-2002-state-budget-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
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