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21st of August 2018


Advanced nations should adopt consistent economic policies | Republika Online

Any change in developed countries' economic policies might affect global economy.

REPUBLIKA.CO.ID, JAKARTA -- Indonesian Finance Minister Sri Mulyani called on developed countries to adopt consistent economic policies. She reminded that any change could affect the global economy.

The minister made the appeal while attending the central bank governors and ministerial meeting of the G20 countries in Buenos Aires, according to the Indonesian Embassy's press statement received by Antara in Jakarta on Tuesday.

The minister attended the two-day meeting on July 21-22, 2018. During the meeting, international trade issues remained a concern of the finance ministers and governors of the central banks of the G20, given the impact of trade on the risks of global economic growth and global volatility.

Finance Minister Sri Mulyani also highlighted the need for transparency and communication on economic policies of developed countries, as it was considered to affect the global economy. Furthermore, during the meeting, the Indonesian government fully supported the G20 infrastructure program, in particular, the extension of the Global Infrastructure Hub to 2022.

With regard to taxation, Indonesia welcomed the G20's efforts, through the Task Force on Digital Economy - the Organization for Economic Cooperation and Development (OECD Task Force for Digital Economy), in pushing for a mutual agreement on the issue of taxation of digital economic activities.

Mulyani highlighted the need for a global agreement on how to conduct taxation on the digital economy. Discussion on value creation in the digital economy is a crucial issue.

As speaker for the topic of "Future of Work" on the impact of digital technology, Mulyani conveyed the need to prepare human resources for change. According to the minister, in preparing for a digital change, fiscal support is necessary for the effort to increase and improve human resource expertise.

"At the same time, we must develop the use of Big Data development in decision making," she noted.

At the G20 meeting, Bank Indonesia was represented by Deputy Governor Doddy Waluyo.

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