What Are the Important Points in 2021 Financial Notes?


President Joko Widodo (Jokowi) is due to present a speech on the 2021 Financial Note at the Plenary Session of the People's Representative Council (DPR) on Friday (8/14). Investors will focus on the structure of the 2021 State Budget and Expenditure Bill (RAPBN).

The deficit and the income structure will be the center of investors' attention, as the impact of the COVID-19 pandemic crisis is expected to continue next year. President Jokowi must convince investors that his cabinet can control debt and return the economy on the track of around 5 percent growth.

"Next year's budget could be like walking a tightrope, with the government trying to ensure that fiscal policy remains supportive of growth but at the same time lay a credible fiscal consolidation roadmap," said Euben Paracuelles, an economist at Nomura Holdings Plc in Singapore, as quoted by Bloomberg.

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