Summary ● The macroeconomic assumption of 5,2%1 in the preparation of the 2025 State Budget shows a less aggressive but realistic government target considering the current weakening economic conditions. ● The government through Presidential Instruction2 has implemented a budget efficiency policy of Rp306,69 trillion, consisting of Rp256,1 trillion from the ministry/institution budget and Rp50,59 trillion from Transfers to Regions. ● The efficiency policy will affect...Read more