Jakarta, Aktual.com – The government reportedly has issued state debentures (SUN) until February 16, 2016 amounted to Rp 135.9 trillion, which is used to finance development programs are listed in the state budget.
Economics from the University of Indonesia (UI) Edi Rizal Halim said the government’s plan to issue debentures are imprecise and tend to only be disturbing fiscal stability.
“The policy of the current government to push the fiscal balance are sometimes less precise. The issuance of state bonds is as expansionary also unhealthy for fiscal health,” he told Aktual.com, Friday (19/2).
According to Rizal, actually have to implemented by the government is to boost acceptance and efficiency of expenditures to fiscal balance maintained.
“It’s an problem for the fiscal health during this time, because the both post was not optimal,” he said.
Governments are taking the easiest way to add both debt financing through the issuance of bonds as well as the withdrawal of foreign debt.
“This precedent is not good for the fiscal health in the future,” he said.
Executive Director of Focus Circle Study also been criticized policy of Jokowi’s government that again increased borrowing foreign debt, one of the Asian Development Bank (ADB) amounting to USD 10 billion or Rp 135 trillion in the next five years with a reason to give support to government development priorities, particularly for the physical and social infrastructure reap the pros and cons from various of society.
Edi Rizal Halim said the government’s move to resume borrowing from the ADB was recognized with assuming to create a condition equilibrium in the country that experienced the imbalance between revenue and capital expenditure of the government.
“This is indeed related to fiscal management. The government wants to guard against the deficit. Now the key is the balance of revenue and fiscal expenditure,” said Rizal.
However, according to Rizal government should, if wanna maintain balance and avoid deficits, a step that should be taken is to encourage acceptance or efficiency of spending, or do both.
“This is what should be encouraged always and maximized by the government, whether it is done or not,” he said.
Moreover, revenues in 2015 are not delight. Tax, non-tax revenues, also from minister of SOE was not optimal, while spending continues to grow.
“It is to be scrutinized jointly by governments, not necessarily easily made additional loans, our debt are already big and difficult to us pay it off,” he explained.
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