Jokowi announces US$158 billion budget for 2017
Focus on SMEs, and increased spending on education and housing.
The Indonesian government will have a budget of IDR 2,070.5 trillion (US$ 158 billion) in 2017, President Joko Widodo announced in the State of the Nation address on Tuesday.
The budget includes IDR 1,310.4 trillion (US$100 billion) spending by central government, and IDR 760 trillion (US$58 billion) of transfers to regional and village governments.
The 2017 budget will increase financing access to small and medium businesses, and improve financing for development and investment, he added, according to the national news agency Antara.
It will also increase access to education and housing for low-income people. “In addition, the involvement of private parties in development will be enhanced through cooperation schemes between the government and business entities,” he said.
The government has set a revenue target of IDR 1,737.6 trillion (US$133 billion) for the year. "The non-tax revenue target is set at IDR 240.4 trillion [US$ 18 billion], although the government is facing heavy challenges as the prices of several mining commodities such as natural oil and coal are still low," the President added.
Image from President Joko Widodo's Facebook page