Megawati to unveil 2001 state budget<\/p>\n
JAKARTA (JP): Vice President Megawati Soekarnoputri is
\nscheduled to propose the 2001 state budget to the House of
\nRepresentatives on Monday, at a time when the government is
\nbracing for a new wave of nationwide demonstrations against fuel
\nprice increases introduced on Sunday.<\/p>\n
Megawati will deliver the budgetary address on behalf of
\nPresident Abdurrahman Wahid, who is away on state visits to
\nseveral Latin American countries, at a House plenary session
\nto be chaired by House Speaker Akbar Tandjung.<\/p>\n
The January-December 2001 state budget will be the country's
\nfirst calendar year-based budget.<\/p>\n
Government officials have said that next year's budget will be
\nheavily burdened by government domestic debts incurred by the
\nhuge costs of bank restructuring and recapitalization program.<\/p>\n
The implementation of regional autonomy starting next year
\nwill also sharply cut the revenue of the central government as
\nregional administrations will get a greater portion of income
\nfrom their natural resources.<\/p>\n
The government has said that it expects to secure some US$4.8
\nbillion in loans from the country's traditional donors grouped in
\nthe Consultative Group on Indonesia (CGI) to help plug part of
\nthe budget deficit.<\/p>\n
The government told the House in recent hearings on the state
\nbudget that asset sales by the Indonesian Bank Restructuring
\nAgency and privatization of state companies would cover at least
\nhalf of the budget deficit, estimated to reach some Rp 52.9
\ntrillion ($6.15 billion).<\/p>\n
The government might also have to further reduce fuel
\nsubsidies next year in a bid to ease the burden on the state
\nbudget.(rei)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/megawati-to-unveil-2001-state-budget-1447893297",
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"sponsor": "Okusi Associates",
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