JAKARTA - Finance Minister Sri Mulyani Indrawati has pledged to carry out maximum efforts by utilising all available fiscal instruments to resolve the increase of Indonesia's current account deficit (CAD). In the second quarter of 2019, Indonesia’s CAD was recorded as rising from 2.6% of GDP or US$ 7 billion to 3.04% of GDP or US$ 8.4 billion.
“We are prepared to utilise all fiscal instruments to assist related ministries and initiatives from regional governments to increase exports,” said Ms Indrawati as quoted by Bisnis.com, Tuesday (13/8).
The related ministries in question are the Ministry of Energy and Mineral Resources, the Ministry of Trade, the Ministry of Industry, and the Ministry of Agriculture.
“All ministries with contributing portfolios, whether from trade or account deficit, will be coordinated,” said Ms Indrawati.
The Ministry of Finance, she added, will also consider recommendations from other related ministries, regional governments, and business players so that the government can issue required policies. (MS)