{
    "success": true,
    "data": {
        "id": 1223653,
        "msgid": "house-approves-2003-budget-1447893297",
        "date": "2002-11-28 00:00:00",
        "title": "House approves 2003 budget",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "House approves 2003 budget The Jakarta Post, Jakarta All factions of the House of Representatives unanimously approved, at a plenary session on Wednesday, the government- proposed 2002 draft state budget into law. The approval will clear the way for regions across the country to start drawing up their own budgets. The regions draw up their budgets based upon figures stipulated in the central government budget.",
        "content": "<p>House approves 2003 budget<\/p>\n<p>The Jakarta Post, Jakarta<\/p>\n<p>All factions of the House of Representatives unanimously<br>\napproved, at a plenary session on Wednesday, the government-<br>\nproposed 2002 draft state budget into law.<\/p>\n<p>The approval will clear the way for regions across the country<br>\nto start drawing up their own budgets.<\/p>\n<p>The regions draw up their budgets based upon figures<br>\nstipulated in the central government budget.<\/p>\n<p>Based on the approved budget, regions are also entitled to<br>\nreceive funding from Jakarta for next year's administrative<br>\nexpenditure.<\/p>\n<p>The approval also wraps up weeks of intense debate between the<br>\ngovernment and the House budget commission in revising the draft<br>\nbudget, first proposed by the government in August.<\/p>\n<p>Following the Oct. 12 Bali bombings, the budget needed to be<br>\nreviewed to take account of the impact on the country's economy<br>\ncaused by the terrorist attack.<\/p>\n<p>The revised 2003 budget assumes an average rupiah exchange<br>\nrate of Rp 9,000 against the U.S. dollar (compared with Rp 8,700<br>\nin the first draft budget), economic growth at 4 percent (5<br>\npercent), inflation at 9 percent (8 percent) and an international<br>\noil price of US$22 per barrel ($20.50).<\/p>\n<p>In the plenary meeting, almost all factions highlighted the<br>\ngovernment's plans for a Rp 10.6 trillion economic stimulus<br>\npackage.<\/p>\n<p>The factions agreed that such a plan was necessary to help<br>\nminimize the Bali impact. However, they also urged the government<br>\nto focus the stimulus on economically productive sectors in order<br>\nto create as many job opportunities as possible.<\/p>\n<p>The stimulus brings total development spending to Rp 65.1<br>\ntrillion and boosts the budget deficit to Rp 34.4 trillion, from<br>\nthe initial proposal of Rp 26 trillion.<\/p>\n<p>The new deficit figures will provide the government with<br>\nstronger reasons to ask its main donor countries, in the<br>\nConsultative Group on Indonesia (CGI), to raise their loans to<br>\nthe country.<\/p>\n<p>The CGI is scheduled to meet early next year to discuss the<br>\nmatter.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/house-approves-2003-budget-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}