Indonesia’s Finance Minister: Optimistic that 5.1% growth will be achieved

Indonesia's Finance Minister Sri Mulyani Indrawati (right) with Chief Executive of Asia House Michael Lawrence (left). Photo by Richard Hanson

Indonesia's Finance Minister Sri Mulyani Indrawati (right) with Chief Executive of Asia House Michael Lawrence (left). Photo by Richard Hanson

Indonesia’s Finance Minister: Optimistic that 5.1% growth will be achieved

20/03/17

By Lucy Tomlinson

Joining Asia House for an exclusive interview straight from the G20 finance ministers’ meeting in Baden-Baden, Indonesia’s Finance Minister Sri Mulyani Indrawati outlined that whilst the world is facing a wide range of uncertainties at this moment,  growth prospects for Indonesia look positive. She said that “We are very optimistic that 5.1 per cent will be achieved this year.”

She also discussed Indonesia’s huge need for infrastructure, outlining that “The amount of the budget allocation for infrastructure spending has tripled in the last three years. We’ve also increased the amount of money for land acquisition.”

The interview followed a private briefing at which Sri Mulyani shared her insights on the economic climate in Indonesia with Asia House corporate members. Watch the full interview below.

 

 

Discussion points covered at the briefing included Indonesia’s GDP growth rate and the increase in FDI; Indonesia’s structural reform; the composition of public spending; the country’s tax reform (which comes to an end on 31 March 2017); and the UK’s post-Brexit approach to Indonesia.

President Jokowi appointed Sri Mulyani as the country’s new finance minister in July 2016 as part of a wider cabinet reshuffle aimed at increasing the effectiveness of his team. She was first selected as Finance Minister in 2005 by then President Susilo Bambang Yudhoyono, remaining in the position until 2010.

She was appointed as the World Bank Group’s Managing Director and Chief Operating Officer after leaving government in 2010. In this position, she was responsible for operations worldwide.

In 2006, she was named as the best Minister of Finance in Asia by the Emerging Markets. In 2016, she was ranked as the 37th most powerful woman in the world by Forbes magazine.

Corporate members represented at the table included HSBC, KPMG, UOB, Prudential, Barclays, CIMB, De La Rue, Jardines, Pfizer and Standard Chartered.

lucy.tomlinson@asiahouse.co.uk

On 22 March, Shriti Vadera, Chairman of Santander UK, will discuss the future of financial services in the City post-Brexit. More information