Kebijakan Fiskal - Isu-Isu Kebijakan Fiskal di Indonesia

Summary

In this session on fiscal policy, the lecturer discusses several pressing fiscal issues in Indonesia, including low tax ratios, budget imbalances, and inflation. Key topics include the challenges of maintaining purchasing power, the MBG nutrition program, plans for raising VAT to 12%, the creation of a Ministry of National Revenue, and the launch of the Danantara fund for sustainable financing. Other issues include regional fiscal autonomy and global economic challenges, such as geopolitical tensions and climate change, which affect the nation’s fiscal stability. The session wraps up with reflections on Indonesia’s need for adaptive fiscal policies in the face of evolving global dynamics.

Takeaways

• 😀 Fiscal policy issues are current problems that require public attention and governmental response.
• 😀 Fiscal policy instruments include revenue collection (taxes, levies), government spending, and the deficit/surplus balance.
• 😀 Key issues in Indonesia's fiscal policy include low tax ratios, declining purchasing power, and the increasing fiscal deficit.
• 😀 Declining purchasing power refers to the reduced ability of the public to buy goods and services due to economic pressures.
• 😀 The tax ratio is an indicator of a country's ability to collect taxes relative to its GDP, and Indonesia's ratio is considered low.
• 😀 The MBG (Makan Bergizi) program aims to improve child nutrition with a budget of IDR 1 trillion but raises concerns about its impact on the fiscal deficit.
• 😀 The proposal to increase the Value Added Tax (PPN) to 12% is a major topic in fiscal policy discussions, potentially affecting the economy.
• 😀 A proposal to create a Ministry of National Revenue aims to separate tax, customs, and budget management to improve revenue collection efficiency.
• 😀 The Danantara Fund is a sovereign wealth fund launched in 2024 to finance long-term strategic projects, reducing short-term fiscal pressure.
• 😀 Fiscal independence for local governments is a challenge, as many still rely heavily on transfers from the central government to fund development.

Q & A

What is fiscal policy and why is it important?

Fiscal policy refers to the government's decisions regarding taxation, public spending, and managing budget deficits or surpluses. It plays a crucial role in regulating the economy, managing public debt, and ensuring that government spending aligns with the country’s economic goals.

What are the three main instruments of fiscal policy discussed in the lecture?

The three main instruments of fiscal policy are: 1) Revenue (taxes, levies, and non-tax income), 2) Expenditure (government spending on both recurrent and capital needs), and 3) Deficit or surplus (the balance between revenue and spending).

What is meant by 'purchasing power' in the context of fiscal policy?

Purchasing power refers to the ability of consumers to buy goods and services. In the context of fiscal policy, a decline in purchasing power indicates that citizens are struggling to afford goods and services due to economic pressures like inflation or tight fiscal and monetary policies.

What is the significance of the low tax ratio in Indonesia's fiscal policy?

A low tax ratio in Indonesia indicates that the government is not effectively collecting enough taxes from economic activities. This affects the country’s ability to finance public spending and achieve fiscal sustainability.

What is the MBG Program, and why is it important?

The MBG Program (Gratis Nutritional Meals) aims to provide nutritious meals to children to improve their health and development, reduce stunting, and support long-term economic growth. The program is critical for addressing nutrition-related issues in Indonesia.

How might the MBG Program impact Indonesia's budget?

The MBG Program requires a significant amount of funding, and its large budget could potentially increase the national deficit if not carefully managed, raising concerns about its sustainability.

What is the proposal to increase VAT to 12%, and why is it significant?

The proposal to increase the VAT (Value-Added Tax) to 12% is part of efforts to increase government revenue. This change is seen as a necessary measure to address the growing fiscal deficit, but it also raises concerns about its impact on consumers.

What is the purpose of establishing a Ministry of State Revenue in Indonesia?

The establishment of a Ministry of State Revenue is proposed to streamline and improve the management of fiscal resources. This ministry would combine various tax and customs agencies to enhance the country’s revenue collection and fiscal policy management.

What is Danantara, and how does it contribute to Indonesia's fiscal strategy?

Danantara is a sovereign wealth fund launched by the Indonesian government to finance long-term strategic projects like infrastructure, renewable energy, and education. Its goal is to reduce pressure on short-term fiscal resources and attract global investors for sustainable funding.

What is meant by fiscal independence of regions, and why is it important for Indonesia?

Fiscal independence of regions refers to the ability of local governments to finance their development needs and public services primarily from their own revenue sources, without heavy reliance on central government transfers. It is crucial for promoting local economic growth and reducing dependency on central funds.

What are the global challenges mentioned in the lecture that affect Indonesia's fiscal policy?

The global challenges include geopolitical tensions and climate change, which can disrupt global economic stability. These issues create uncertainty, affecting Indonesia's fiscal policy and requiring adaptive strategies to maintain economic resilience.

What role does inflation play in Indonesia's fiscal challenges?

Inflation affects purchasing power and increases the cost of living, putting pressure on both consumers and the government. The need for subsidies on energy and social assistance programs increases, which complicates the fiscal management of the country.