Sri Mulyani named best finance minister in Asia Pacific

20 April, 2018 | Source: Antara News

Finance Minister, Sri Mulyani Indrawati, was named the best finance minister in Asia and the Pacific for 2018 by Hong Kong-based financial magazine FinanceAsia for the second time in a row.

FinanceAsia views Mulyani as being successful in driving Indonesia′s economy in a better direction, the Finance Ministry noted in a statement, here, Monday.

Mulyani is believed to have successfully capitalized on global economic progress to reform the financial structure in 2017, so it can survive when interest rates rise in the United States.

FinanceAsia applauded Mulyani′s "laser-like focus" in increasing tax revenue, which sets her apart from her counterparts across Asia. Her focus on increasing tax revenue was aimed at reducing dependency on commodity sales that often fluctuate depending on the global prices.

The magazine believes that the female minister had managed to maintain stability in state expenditure as is apparent from the lower budget deficit of 2.5 percent as compared to the initial projection of 2.9 percent.

The government is also viewed as being successful in maintaining the stability of inflation and the rupiah exchange rate. Indonesia′s gross domestic product reached US$1 trillion for the first time, with stable economic growth of above five percent.

FinanceAsia also announced ratings for other finance ministers in the Asia Pacific. The second rank was awarded to Singapore′s Finance Minister Heng Swee Keat, followed by Philippine Finance Minister Carlos Dominguez coming third, India′s Finance Minister Arun Jaitley ranking fourth, and Chinese Finance Minister Xiao Jie coming fifth.

The sixth rank was awarded to South Korea′s Minister of Strategy and Finance Kim Dong-yeon, Australian Finance Minister Scott Morrison standing seventh, Thai Finance Minister Apisak Tantivorawong ranked eighth, Japanese Finance Minister Taro Aso coming ninth, followed by Hong Kong′s Finance Minister Paul Chan.

The 11th and 12th ranks were respectively awarded to Malaysian Minister of Finance Najib Razak and Finance Minister of Taiwan Sheu Yu-jer.

Mulyani said she received the award owing to the leadership of President Joko Widodo and Vice President Jusuf Kalla, who always push every minister to work hard to improve the people′s welfare.

The award is also a form of recognition for the government′s hard work in the economic field, supported by cooperation between the Finance Ministry and other stakeholders.

"The state′s finance is a means to materialize the ideals of Indonesia′s independence, which is to realize a prosperous and just community and a civilized state with dignity," she noted.

In February 2018, Mulyani received the "Best Minister in the World Award" during the World Government Summit held in Dubai, the United Arab Emirates. The award was handed over by Dubai′s Sheikh Mohammad bin Rashid Al Maktoum and organized in partnership with Ernst and Young.

 

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Strong consolidation needed to face global economic turbulence Reporter: Agus Salim 3 hours ago President Joko Widodo (Jokowi) addressing at a ceremony commemorating the 50th anniversary of the Indonesian Chamber of Commerce and Industry (Kadin) on Monday night. (Agus Salim) Jakarta (ANTARA News) - President Joko Widodo (Jokowi) reminded the country`s fiscal and monetary authorities and the business of the need for strong coordination and consolidation to face the global economic uncertainties. "Uncertainties in the global condition, trade war between the United States and China, increase in interest rate, crisis in Argentina and Turkey, would necessitate strong consolidation and coordination between the monetary and fiscal authorities and the business sector," Jokowi said addressing a ceremony commemorating the 50th anniversary of the Indonesian Chamber of Commerce and Industry (Kadin) here on Monday night. He said good coordination and consolidation would make it easier to develop the public and market confidence. "It is the same as in developing a corporation. Trust brand is vital. The state needs that. Building up trust and market confidence that the international communities, domestic market believe that we are working seriously to settle state problems," he said. He said Indonesia is a big country with a population of 263 million, the fourth largest in the world, having 17,000 islands and made up of 34 provinces. "It is not easy to manage such big country . Each area has own cases, and requirement different from each other," he added. He said developing Indonesia concerns not only economic and political aspects. "If we are concerned only with economic and political gains we need only to focus on development of Java, which is home to 60 percent of the country`s population, but we think of a nation. We are concerned not only with expanding business empire leaving Papua, North Maluku, NTT and other eastern Indonesian regions to suffer in backwardness," he said. Currently imbalance is still wide in infrastructure between the country`s western, central and eastern regions, he said, adding Indonesia is seeking to catch up with other countries. He cited three years earlier, Indonesia had only 231 water reservoirs and dams as against 6,000 dams in the United States and 110,000 dams in China. "This is fact that has to be presented and we have to do something about it," he said. He also spoke about progress made in the construction of toll roads saying after the Jagorawi toll road was operational until early 2015, Indonesia had only 780 km of toll road as against China`s toll roads totaling 280,000 km. "We need to know the condition we are in before we start working hard to make up for the gap especially in eastern Indonesia," he said. Reporting by Agus Salim Editing by Albert Saragih Editor: Bustanuddin COPYRIGHT © ANTARA 2018 AddThis Sharing Buttons Share to FacebookShare to TwitterShare to Google+Share to WhatsAppShare to LINEShare to PinterestShare to GmailShare to EmailShare to More Prev News Indonesia calls for reconciliation and justice for peace Next News Puan attends UN meeting on world peace Comments
President Joko Widodo (Jokowi) reminded the country`s fiscal and monetary authorities and the business of the need for strong coordination and consolidation to face the global economic uncertainties.
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