Indonesia defense acquisition program 2020-2024
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Prabowo's Ministry Gets Rp 135.4 T (8.8 Billion USD) Budget in 2024
coilBUSINESSAugust 16, 2023 18:12 PM
The Ministry of Defense led by Prabowo Subianto received the second largest budget allocation in the 2024 State Budget. The total allocation for Kemhan based on the Financial Memorandum Book is Rp 135.4 trillion.
This fund is smaller than the previous outlook of Rp 144.3 trillion. Even so, the allocation for Prabowo's ministry is up from last year's allocation which was recorded at Rp 131 trillion.
Despite the increase, Kemhan in the 2023 State Budget is no longer the ministry with the most jumbo allocation. The Ministry with the largest budget is the Ministry of PUPR with a total budget of Rp 146.98 trillion.
Kemhan occupies the second position, followed by the National Police with a total budget of Rp 114.8 trillion. Furthermore, there is the budget of the Ministry of Education and Culture for Research and Technology of Rp 97.7 trillion.
The Ministry of Health received an allocation of Rp 90.3 trillion so that it occupies the 5th largest position. The Ministry of Social Affairs thereafter with an allocation of Rp 79.2 trillion. Then there is the Ministry of Religion 72.2 trillion, the Ministry of Finance Rp 48 trillion, and the Ministry of Transportation with a total budget of Rp 38 trillion.
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Indonesia buys UK submarine rescue vessel in US$100mil deal
JAKARTA (Reuters): Indonesia's defence ministry said on Wednesday (Sept 13) it has signed an agreement to buy a submarine rescue vessel for US$100 million from a British company, the latest move to modernise the South-east Asian country's ageing military equipment.
The deal between a company appointed as the defence ministry's partner, PT BTI Indo Tekno, vessel producer Submarine Manufacturing & Products Ltd and Houlder Ltd was signed on Tuesday on the sidelines of a defence expo in London.
It's the latest in a series of big-ticket military purchases that have raised eyebrows in Indonesia, among them 42 Dassault Rafale fighter jets for $8.1 billion, 12 new drones from Turkish Aerospace worth $300 million, and 12 used Mirage 2000-5 fighter jets worth $800 million.
President Joko Widodo in July warned his cabinet to maintain a "healthy" budget as he highlighted outsized spending by the country's security agencies, including the defence ministry. Indonesia has earmarked 134.3 trillion rupiah ($8.74 billion) this year for defence, the biggest allocation in its state budget.
The British-made submarine is designed for swift rescue operations, can fit 50 people and is transportable by aircraft. It will be delivered with its mothership, the defence ministry said.
Indonesia was left without a rescue vessel when its one of its five submarines sank during a torpedo drill in the Bali Sea in 2021, killing 53 crew members on board.
"This is the part of Defence Minister Prabowo Subianto's mission to increase the capability of Indonesian navy," the defence ministry said in a statement.
For the past decade, Indonesia's defence spending per capita and as a percentage of gross domestic product has been the lowest among South-east Asia's six emerging market economies, according to data from the Stockholm International Peace Research Institute (SIPRI) think tank.
Indonesia buys UK submarine rescue vessel in US$100mil deal
JAKARTA (Reuters): Indonesia's defence ministry said on Wednesday (Sept 13) it has signed an agreement to buy a submarine rescue vessel for US$100 million from a British company, the latest move to modernise the South-east Asian country's ageing military equipment.
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Indonesian president tables $216 bln budget for 2024
By Stefanno Sulaiman and Gayatri SuroyoAugust 16, 20236:41 PM GMT+7
Updated a month ago
- Summary
- 2024 proposal 6% higher than 2023 budget
- Next year GDP growth targeted at 5.2%, vs 2023's 5.1% outlook
- 2024 budget deficit f'cast at 2.29% of GDP, same as 2023
The budget proposal, tabled in parliament, is an increase of around 6% from this year's spending plan, which has been revised up to 3,123.7 trillion rupiah.
It also assumes 5.2% economic growth next year, slightly above this year's official forecast of 5.1% growth, and inflation running at 2.8% next year, below this year's 3.1% outlook.
Jokowi, as the president is popularly known, said he targets the 2024 budget deficit to be at 2.29% of gross domestic product (GDP), roughly the same as the latest outlook for this year's deficit of 2.28%.
Some economists, however, described the budget assumptions as too optimistic when global growth is expected to remain weak next year.
"The 2024 state budget architecture must be able to respond to economic dynamics, address challenges and optimally support the development and welfare agenda," Jokowi said in his annual budget speech to parliament, a day ahead of the anniversary of Indonesia's independence.
Indonesian president tables $216 bln budget for 2024
Indonesian President Joko Widodo proposed a budget of 3,304.1 trillion rupiah ($216.24 billion) on Wednesday for 2024, his final year in office, promising to guard the economy against global challenges and keep food prices stable.
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