00:00To guarantee change, the reformation policy must be well-prepared with confidence that it must be excelled
00:10by adopting more fresh and aggressive fiscal reforms,
00:16enabling the institution to ramp up the level of effort and efficiency, as well as the need for service to the people.
00:24Therefore, the Fiscal Responsibility and Public Finance Act has set a clear guideline
00:34regarding the management of debt and fiscal deficit.
00:37Debt will continue to increase as long as the deficit is not reduced.
00:42Therefore, firm and level measures have been taken by the government to consistently reduce the deficit.
00:50From 5.5% in 2022 to 5.2% in 2023,
00:58followed by 4.3% in 2024 and 3.8% in 2025.
01:09Or in other words, which is a lot of confusion about the amount of debt.
01:17Accumulated debt, old debt, new debt, that's what we reduce.
01:22I promise we will not add debt.
01:26Listen carefully.
01:27What I said is that in 2022, the government owes Rp 100 billion.
01:34In 2023, we will reduce it to Rp 90 billion.
01:40In 2024, it is estimated to be reduced to Rp 85 billion.
01:47And the budget for next year 2025, from Rp 100 billion, we will reduce it to Rp 80 billion.
01:57This means a clear and responsible debt reduction.
02:02And this means that if the deficit can be reduced,
02:06and new loans are listed every year,
02:10we can achieve the simple FRA budget,
02:14which is a fiscal deficit of 3% and a debt balance of less than 60% of GDP.
02:23This year, the total revenue was reduced,
02:26higher than the initial reduction to Rp 322 billion,
02:31compared to Rp 308 billion.
02:34The government also expects the total revenue in 2025 to continue to rise to Rp 340 billion.
02:44Therefore, we are grateful and thank you to the customers in LHDN.
02:50But we are grateful for the real increase in revenue.
02:53Therefore, the base of revenue is still low.
02:57Malaysia has the lowest revenue allocation system in Asia,
03:05while subsidy spending has risen to the highest level in Asia.
03:12We have to deal with this issue.
03:14The base of revenue needs to be expanded.
03:18The base of revenue is still the lowest,
03:21which is Rp 12.6% of GDP in 2023,
03:29compared to Rp 16.1% in Thailand,
03:33Rp 14.1% in the Philippines,
03:36and Rp 13.7% in Singapore.
03:41We have to bear the subsidy, incentive and assistance to the people,
03:46which is Rp 80 billion last year.
03:50Subsidy and assistance to the people is Rp 80 billion.
03:55It is not a problem.
03:57The problem is when it is enjoyed by the rich and foreigners.
04:03Rp 80 billion is partially enjoyed by the rich and foreigners.
04:12And this has to be solved.
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