Abandoned Emergency
A revision of the 2016 budget is a matter of the utmost emergency. After the first quarter, it is crystal clear just how off-target the realized budget will be. If this weak signal persists, market confidence and, ultimately, the country's credibility will suffer.
For one thing, the government was able to collect only Rp194 trillion worth of taxes during this year's first quarter, Rp4 trillion less compared to the figure from the same period last year. This drop is all the more painful, considering that one of its causes is a fall in value-added tax (VAT) proceeds. This is a strong signal that the economy is slowing down.
April 12, 2016
A revision of the 2016 budget is a matter of the utmost emergency. After the first quarter, it is crystal clear just how off-target the realized budget will be. If this weak signal persists, market confidence and, ultimately, the country's credibility will suffer.
For one thing, the government was able to collect only Rp194 trillion worth of taxes during this year's first quarter, Rp4 trillion less compared to the figure from the same period last
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