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The Finance Ministry revealed that the total budget requests from various government ministries and agencies for the fiscal year starting in April 2025 have reached approximately ¥110 trillion.
Deputy Minister of Finance Suahasil Nazara underscored the significance of these efforts during his remarks at the 16th ASEAN and Asia Forum in Singapore on July 30. He emphasized that Indonesia is leveraging its down streaming policy not merely as a restriction on mineral resource exports but as a strategic move to enhance the value of domestically produced goods and expedite economic transformation.
The budget, presented by Jammu & Kashmir’s Finance Minister, aims to allocate substantial resources towards infrastructure development, healthcare, and education. With an emphasis on economic rejuvenation and welfare, the budget proposes increased funding for key sectors including roads, water supply, and power.
South Korean Finance Minister is set to attend the G20 summit in Brazil, focusing on global economic challenges and opportunities.
Japan's Finance Minister, Shunichi Suzuki, acknowledges the effectiveness of recent government intervention in the currency market, marking a significant move to stabilize exchange rates.