THE ROLE OF LOCAL ECONOMIES IN ACHIEVING INCLUSIVE GROWTH FOR INDONESIA

Transcription

1 FISCAL POLICY AGENCY MINISTRY OF FINANCE OF THE REPUBLIC OF INDONESIA THE ROLE OF LOCAL ECONOMIES IN ACHIEVING INCLUSIVE GROWTH FOR INDONESIA Prof. Suahasil Nazara Chairman of Fiscal Policy Agency Ministry of Finance, Republic of Indonesia The 14th IRSA Conference 2018 Strengthening Regional and Local Economy Surakarta, July 2018

2 This year marks the 20 th year of IRSA Annual Meeting 2

3 The Indonesia Regional Science Association (IRSA) is an Indonesian academic organization that actively promotes the advancement of research across the country. This network has now reached a critical mass that can play a major role not only in the academic arena through research and publications but also contribute to the evidence-based regional development policies nationally, regionally, and locally The Idea Emerged at Mid 1980s, Bandung IRSA is Formed at 12 December 1996, Jakarta IRSA Formal Inauguration, 13 March 1997, Jakarta First IRSA s President was Appointed, August 1997 The idea to form IRSA was formed during an international regional science seminar in Bandung held by Pacific Regional Science Conference Organization (PRSCO). IRSA is formalized during a meeting between Budy P. Resosudarmo and Geoffrey Hewings at the World Bank Jakarta. Here the IRSA Working Committee was formed. A gathering is held by IRSA Working Committee. The meeting also formed IRSA Formatur, tasked to appoint IRSA s president. Prof. Bambang Bintoro Soedjito was elected as the first president of IRSA in August BADAN KEBIJAKAN FISKAL - KEMENTERIAN KEUANGAN RI

4 IRSA Conference consistently conducts annual conference since 1998 good collaboration: universities, policy makers, partners and sponsors enthusiastic participants from domestics and Asian countries Dates and Place Chair Topics Jakarta, Oct 1998 Bambang P.S. Brodjonegoro Regional Development Policy: Theory and Practice Jakarta, 28 Feb 2000 Budy P. Resosudarmo Indonesian Regional Development Policy: Challenges in the New Millennium Jakarta, March 2001 Bali, Jun 2002 U. Indonesia & Bappenas Bandung, Jul 2003 U. Padjadjaran & Bappanes Yogyakarta, August 2004 U. Gadjah Mada & Bappenas Jakarta, 3-4 August 2005 U. Indonesia & Bappenas Malang, August 2006 U. Brawijaya & Bappenas Bandung, 2-3 Nov 2007 ITB & Bappenas BADAN KEBIJAKAN FISKAL - KEMENTERIAN KEUANGAN RI Budy P. Resosudarmo, Armida Alisjahbana and Bambang P.S. Brodjonegoro Armida S. Alisjahbana Catur Sugiyanto Suahasil Nazara Candra Fajri Ananda Ibnu Syabri Indonesia s Sustainable Development in the Era of Decentralization Decentralization, Natural Resource, and Regional Development in the Pacific Rim Regional Development in a Decentralized Era: Public Services, Poverty, and The Environment Regional Development in Transition: Governance, Public Services, and Ecotourism Natural Disasters Impacts and Challenges for Recovery: Economic Development Strategy Focusing on Aids, Governance, Infrastructure & Environment Empowering Regional Economic Development toward Sustainable Poverty Alleviation: Good Governance, Financing Development, and the Environment Sustainable Regional Development: The Role of Infrastructure in Achieving Millennium Development Goals 4

5 IRSA Conference consistently conducts annual conference since 1998 good collaboration: universities, policy makers, partners and sponsors enthusiastic participants from domestics and Asian countries Dates and Place Chair Topics Palembang, Jul 2008 U. Sriwijaya & Bappenas Bogor, Jul 2009 IPB & Bappenas Surabaya, Jul 2010 U. Airlangga & Bappenas Padang, Jul 2011 U. Andalas & Bappenas Banjarmasin, 9-11 Jul 2012 U. Lambung Mangkurat & Bappenas Bandung, 2-4 Jul 2013 U. Padjadjaran & Bappenas Makassar, 2-3 Jun 2014 U. Hasanuddin Bali, 3-5 Aug 2015 U. Udayana Malang, Jul 2016 U. Brawijaya Manado, Jul 2017 U. Sam Ratulangi BADAN KEBIJAKAN FISKAL - KEMENTERIAN KEUANGAN RI Bernadette Robiani D.S. Priyarsono and Ernan Rustiadi Bambang Eko Afiatno Hefrizal Handra The Current and Future Issues of Regional Development, Energy and Climate Change The Political Economics of Regional Development Reintegrating Indonesian Regional Economy in the Global Era Regional Development and Finances: Challenges for Expanding and Financing Public Services in the Decentralized Era M. Handry Imansyah Natural Resources, Environment and People s Welfare in Decentralized Indonesia Mohamad Fahmi Hamid Paddu I K. G. Bendesa Devanto Pratomo Noldy Tuerah Green Growth and Global Recovery: A Regional Perspective Political Economy of Regional Development in Indonesia Tourism And Sustainable Development Demographic Change and Regional Development Maritime Infrastructure and Regional Development 5

6 Economic Development: Where we were and Where we are now? 6

7 Asian Financial Crisis Leading to Reforms One of the Major Reform: Regional Autonomy & Fiscal Decentralization 20 years ago, Indonesia was severly hit by the Asian Financial Crisis, an event that made the country implement various FUNDAMENTAL CHANGES Regional Scientists was taking a significant roles on the reform The reform contributes to the economic development recovery but some challenges remain 7

8 Reform Series of reforms have been implemented and vital laws have been launched to significantly improve the whole nation s governance Banking Law Anti monopoly Law Decentralization Laws Central Bank Law Anti corruption Law Capital movement Law Debt financing Law Bureacratic Reform Establishment of KPK Labor Law State Finance Law Treasury Law State Finance Law SJSN Law Direct Presidential Election Revised decentralization Law Tax Sunset Policy OJK Law Insurance Law Fuel subsidy reform Village Law Local government Law Reinventing Policy Structural Reform (policy packages) Financial Stability Law Tax Amnesty 8

9 In the course of 20 years through the reforms, growth has been more resilient, welfare increases, and inflation is more benign 10,0 5,0 AFC 2,6 GFC 4,6 Indonesia 5,1 GDP per capita (US$ current) 3.113, ,3 0,0-5,0-0,1 World 3, ,6 494,0 714,5 830, ,5-10,0-15,0 Source: BPS & IMF ,6-13,1 Average Inflation Rate (%) GDP growth (%) Source: WDI World Bank 24,20 Poverty Rate (%) ,4 5,0 9,82 Source: BPS Source: BPS 9

10 years after AFC Indonesia regains investment grade status as fiscal prudence and creditworthiness improving Average General Gov t Deficit in Two Recent Decades (% of GDP, ) 2,6 1,5 0,4-0,5-1,1-1,3-1,5-1,6-2,1-2,5-3,0-3,1-3,5-3,8-4,0-4,5-5,3-6,3-8,2 Source: IMF 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Indonesia Debt to GDP Ratio 88,7% 29,0% 23,0% Source: MoF 10

11 years after AFC Economic Structure Has Been Shifting Service Sector Play Higher Role in the Economy INDONESIA S SHARE OF GDP GROWTH (%) 60,0 SHARE OF EMPLOYMENT BY SECTOR (%) Service 27,6 28,2 32,9 50,0 40,0 19,0 17,9 6,6 6,9 15,9 10,4 30,0 Agriculture and Mining 23,8 24,0 20,2 20,0 8,3 10,5 7,6 14,7 12,5 13,1 10,0 Manufacture Agriculture Mining Manufacturing Construction Trade Services 11

12 NTB Papua NTT Kalbar Jatim Kalsel Sulteng Sultra Lampung Sulsel Sumsel Jateng Jabar Bengkulu Aceh Jambi Bali Sumbar Sumut Kalteng Sulut Maluku Riau Kaltim DIY DKI 54,2 58,8 58,05 65,81 60,4 63,13 60,6 61,8 62,2 62,8 62, ,88 63,6 69,74 69,05 67,47 69,31 67,65 69,76 63,9 68,24 64,6 64,6 64,8 69,33 65, ,4 69,62 65,7 65,8 66, ,98 70,05 66,7 69,13 67,1 71,05 67,2 67,6 70,73 67,3 71,2 67,8 68,7 73,65 74,59 72,5 78,38 79,6 20 years after AFC Regional Development Improves Human Development Index Increases in all regions but Papua BADAN KEBIJAKAN FISKAL - KEMENTERIAN KEUANGAN RI 12

13 Aceh Sumut Sumbar Riau Jambi Sumsel Bengkulu Lampung Babel Kepri DKI Jabar Jateng DIY Jatim Banten Bali NTB NTT Kalbar Kalteng Kalsel Kaltim Kaltara Sulut Sulteng Sulsel Sultra Gorontalo Sulbar Maluku Malut Pabar Papua 5,3 6,2 4,6 3,6 9,2 11,9 6,7 11,2 7,4 10,3 7,9 7,5 5,2 6,6 4,0 5,2 7,0 4,5 6,0 0,0 7,1 9,5 10,3 11,0 9,1 7,8 9,4 7,8 6,6 16,0 13,9 12,8 13,6 12,9 11,0 13,1 11,3 12,1 11,4 9,1 11,6 11,3 12,0 15,4 14,8 14,0 14,1 19,2 22,1 22,2 20,4 19,0 20,0 16,8 19,0 18,1 21,4 22,4 21,3 23,0 26,7 25,0 27,5 27,4 27,7 31,1 39,3 40,8 20 years after AFC Regional Development Improves Poverty Rate Declines in All Regions 45,0 National poverty rate ,0 35,0 30,0 16.6% 9.8% 25,0 20,0 15,0 10,0 5,0 0,0 BADAN KEBIJAKAN FISKAL - KEMENTERIAN KEUANGAN RI 13

14 Challenges #1 Unequal Growth Among Regions Remain The majority of growth contribution is still coming from Java Sumatera GDP Distribution % 21.34% Kalimantan % 8.43% Jawa 57.28% 58.59% Sulawesi 5.19% 6.04% BADAN KEBIJAKAN FISKAL - KEMENTERIAN KEUANGAN RI Picture: two women in Labengki Island, Sulawesi Bali & Nusra 3.03% 3.03% Maluku & Papua 2.70% 2.57% 14

15 Challenges #2 Indonesia Experiences Rapid Urbanization The pace of population growth and urban land expansion has been uneven across regions Population living in Urban Areas (to total population) Absolute change in share urban population, Note: Selected countries with different periods Sources: WDI, World Bank & DRC (2014), Urban China 15

16 Fiscal Supports Inclusive Growth 16

17 FISCAL STRATEGY TO SUPPORT INCLUSIVE GROWTH OBJECTIVE Sustainable development to achieve people s welfare Regions DIMENSION Human-being Industries Prudent Financing FISCAL: EFFECTIVE & SUSTAINABLE Revenue Mobilization Increasing Tax Ratio Optimum Non-Tax Revenue Fiscal Incentive to improve investment climate Spending Better Efficiency & Simplification Priority Based, Planning and Sinergy Well targeted Subsidy Toward productivity & risk control Innovative and creative financing (LPDP/SWF, LMAN, PPP) PRIORITY PROGRAMS FOR INCLUSIVE GROWTH Human Capital Development: Health & Education Accelerate Infrastructure Development: National Strategic Projects Accelerate Poverty Eradication & Inequality Reduction: Comprehensive Social Protection & Well-targeted Subsidy Improve the Effectiveness of Fiscal Decentralization & Village Fund: Synergy Central & Local Governments 17

18 IDR Trillion Maintain 20% Budget Allocation For Education equalizing access & quality of education, strengthening vocational and SWF for education ,8% 2,0% 2,4% 3,3% 3,3% Central Government Rp146,6T Targeted Program Smart Indonesia Program (Program Indonesia Pintar) 19,7 million student ,7% 375,4 408,5 416,6 426,7 8, POLICY DIRECTIONS 2,0% 1. Expanding access to education (particularly for the poor) and improving quality of education 2. Improving the quality of school facilities 3. Synergizing between central and sub national government 4. Strengthening vocational schools and synchronizing the curriculum of SMK (link and match) 5. Synergizing programs to improve the access (BOS, PKH, PIP, Bidik Misi dan DPPN) for sustainable education BADAN KEBIJAKAN FISKAL - KEMENTERIAN KEUANGAN RI 440,9 Transfer to Region Rp279,3T SWF Rp15T School Operational Assistance (Bantuan Operasional Sekolah/BOS) Assistance for College Student (Bidik Misi) Development/ rehabilitation of school/ classroom Teacher allowances 56 million student 401,5 thousand college students 61,2 thousand Non PNS 213,7 thousand teachers PNS 257,2 thousand teachers 18

19 IDR Trillion Allocating 5% For Health Budget Since 2016 expanding supply side, improving access and quality of health care and maintaining the sustainability of JKN Targeted Program 120,0 100,0 80,0 60,0 40,0 20,0 0,0 8,7% 39,2% 61,0 74,8 104,1 106,7 8,622,6% ,3 % 8,8% POLICY DIRECTIONS 2,0% 2,4% 2,5% 3,3% 110,2 Central Government Rp80,7T Transfer to Region Rp29,5T 1. Increasing and improving the uneven distribution of health facilities and and health professionals 2. Strengthening promotive and preventive programs focused on NCDs and programs for maternity through Gerakan Masyarakat Sehat (Germas) 3. Improving the effectivity and sustainability of JKN 4. Strengthening local government role for supply side and improving the quality of health care BADAN KEBIJAKAN FISKAL - KEMENTERIAN KEUANGAN RI 3,3% Jaminan Kesehatan Nasional (JKN)/ National Health Insurance Family planning (KB) Immunization for baby 0-11 month High quality health care facilities Certification of drugs and food Malaria and HIV treatment 92,4 million people 1,8 million people 92,5% 49 hospitals/ health facilities 74,0 thousand 52% HIV cases treated 95% Malaria cases treated 19

20 Below the line Above the line Strategy To Improve Infrastructure developing new ways to attract infrastructure investment` Budget Allocation (Rp Trillions) 401,1 409,0 Area of infrastructure financing alternative 145,5 155,9 154,7 Allocating more money does not necessarily mean an increase in infrastructure quality. The capacity of spending and the quality of spending relation does not align perfectly. For infrastructure spending, Indonesia should invite more private capital (through PPP). Infrastructure funding gap, expected to be potentially fulfilled by either SOE & Private Sector ELECTRICITY Source : RPJMN ,1 269, Infrastructure Needs by Sector (Rp Trillions) PORT ROADS TELCO &IT TRAINS HOUSING AIRPORT OIL&GAS OTHERS STATE REVENUE Tax Allowance, Tax Holiday, Fiscal Incentives STATE EXPENDITURE Line Ministries (Ministry of Public Works, Ministry of Transportation, Ministry of Energy, etc) Non Line Ministries (o/w. VGF, PDF, grants, PSO) Transfer to the Regions & Vilage Fund (o/w. DAU (25%), Physical DAK, Vilage Fund) FINANCING Revolving Fund (o/w. FLPP), Project based bonds (e.g. SUKUK), Capital injection in PT SMI & PT IIF (financing) as well as PT IIGF (guarantee), Subsidiary Loan Agreement, Guarantee, Investment (capital injection) in SOE, Capital injection in BLU LMAN for land clearing BADAN KEBIJAKAN FISKAL - KEMENTERIAN KEUANGAN RI 20

21 Accelerate Poverty Alleviation And Disparity encourage effectiveness of social protection program Budget Allocation (Rp Trillions) 2017 Real Sem 2018 APBN Bantuan Sosial PKH 4,4 6,4 9,1 12,8 17,1 PIP 6,7 11,7 11,0 10,0 10,8 PBI JKN 19,9 19,9 24,8 25,5 25,5 Bidik Misi 2,2 2,8 3,2 3,4 4,1 BPNT ,5 13,2 Bansos Rastra - 7,3 Subsidi Subsidi BBM 240,0 60,8 43,7 50,6 46,9 Listrik 101,8 58,3 63,1 50,6 47,7 Rastra 18,2 21,8 22,1 19,4 - KUR 2,348 1,433 4,18 3,17 11,98 Total 395,6 183,1 181,1 176,9 184,5 Welfare enhancement running slowly Optimalizing program implementation CHALLENGE Acces limited and not equally distribute Synergizing Central and Local Government BADAN KEBIJAKAN FISKAL - KEMENTERIAN KEUANGAN RI 21

22 Fiscal Decentralization 22

23 FISCAL DECENTRALIZATION OF INDONESIA : THE VOYAGE BEFORE (CURRENT) /73 Regional Administrations Province Districts/Municipalities /93 National and local leader elected by the Legislatif CG authoriy is dominant and LG authority is limited Local Government Expenditure Responsiblity (share) is limited Transfer to the region very limited (18 % from national budget 2000). A dominant role of specific transfer (DAK), known as Presidential Instruction transfer- ( Inpres transfer ). a very limited revenue sharing (DBH) mechanism Taxing authority BADAN for KEBIJAKAN LG is FISKAL still -limited KEMENTERIAN KEUANGAN RI Political Decentralization Administration Decentralization Fiscal Decentralization National and local leader Elected by the people CG authoriy is limited and LG authority has Increased significantly Local expenditure responsibility (share) increases (around 40% to total government expenditures). Transfer to the region has increased considerably (34,5% from national budget 2018). A dominant role of general purpose transfer (DAU) There is a significant revenue sharing (DBH) mechanism Village Fund transfer stipulated since 2015 Taxing authority for LG has increased significantly. 23

24 REGIONAL FISCAL SUPPORT equalization the central budget taxes and transfer to regions to support fiscal decentralisation KALIMANTAN Triliun Rp SULAWESI Triliun Rp I. Pendapatan 86,0 a. Pajak 32,0 b. Bea & Cukai 1,1 c. PNBP 52,9 II. Belanja 93,9 a. TKDD 73,6 b. Belanja K/L 20,3 Neto (I-II) (7,9) I. Pendapatan 19,7 a. Pajak 16,6 b. Bea & Cukai 0,6 c. PNBP 2,5 II. Belanja 104,5 a. TKDD 73,3 b. Belanja K/L 31,2 Neto (I-II) (84,8) MALUKU dan PAPUA Triliun Rp I. Pendapatan 18,4 a. Pajak 10,7 b. Bea & Cukai 1,7 c. PNBP 6,0 II. Belanja 89,6 a. TKDD 71,7 b. Belanja K/L 17,9 SUMATERA Triliun Rp Neto (I-II) (71,3) I. Pendapatan 144,1 a. Pajak 66,9 b. Bea & Cukai 6,8 c. PNBP 70,4 II. Belanja 232,3 a. TKDD 176,1 b. Belanja K/L 56,2 Neto (I-II) (88,2) JAWA Triliun Rp I. Pendapatan 1.143,2 a. Pajak 884,9 b. Bea & Cukai 161,6 c. PNBP 96,6 II. Belanja 302,8 a. TKDD 201,8 b. Belanja K/L 101,0 Neto (I-II) 840,4 BALI dan NUSRA Triliun Rp I. Pendapatan 15,5 a. Pajak 11,7 b. Bea & Cukai 1,5 c. PNBP 2,3 II. Belanja 56,4 a. TKDD 39,5 b. Belanja K/L 17,0 Neto (I-II) (40,9) Description: 1. Revenues => collected from Regions to Centers 2. Spending => returned from Central to Region 3. Data in Trillion Rp 4. Average data Expansion KEMENTERIAN KEUANGAN budget RI policy to outside Java to support accelerating the equalization of Java and outside Java 24

25 IMPROVING QUALITY OF TRANSFER TO REGION AND VILLAGE FUND enhancing the quality of public services, creating job oppurtunity, reducing poverty and inequality between regions Allocation (Rp Triliun) 766,2 Transfer to Region 344,7 Revenue Sharing Physical DAK 98,2 Expanding the utilization of DBH Cukai Hasil Tembakau (CHT) 25% for infrastructure spending Focusing on public infrastructure gap Money follow program; Affirmative policy General Allocation Fund/DAU Non Physical DAK 25% for infrastructure spending To reduce burden for public services Regional incentives Fund Special Autonomy Fund Allocation increases with average growth 13,7% per year. In the last five 6,8 years Transfer to Region and Village Fund funded more than 70% of local government budget every year. KEMENTERIAN KEUANGAN RI Stimulating performance improvement of public services and financial management Village Fund Accelerating infrastructure development in Papua & Papua Barat. Better formulation focusing on poverty reduction and regional disparity Performance based 25

26 BALANCE FUNDS the strengthening of balance funds policy is continuously conducted to achieve better outcomes General Transfer (DTU) Revenue Sharing ( Rp Trillion ) 90,5 88,2 89,2 General Allocati o n Fund ( Rp Trillion) 385,4 398,6 401,5 Indeks Williamson ,837 0,769 0,793 0,776 0,801 0,723 78, Reducing vertical fiscal imbalances Spesific Transfer (DTK) Physical Specific Allocation Fund (Rp Trillion) 75,2 54,9 62,1 62, , Reducing horizontal fiscal imbalances Non-Physical Allocation Fund (Rp Trillion) 97,2 88,7 105,6 123, ,731 0,742 0,759 0,726 0,693 0,725 0,691 0,681 0,676 0,648 0,672 0, Provinsi Nasional Kab/Kota The Smaler IW shows better fiscal equity Infrastructure Roads: maintenance km enhancement km build km Education fixed broken class room Build new class room BOS for 45,12 million student BOP PAUD for 5,12 million children TPG for 1,22 million teacher. Accelerate national priority achievement KEMENTERIAN KEUANGAN RI Helping LG in providing basic services Among other 2017 output 26

27 POLICY of DID, OTSUS, AND DANA KEISTIMEWAAN DIY strengthening the policy continuously for improving the quality of regional development Regional Incentives Fund (DID) DID is rewarded to LG for good performance in fiscal management, public services, and enhancing social welfare. Allocation of DID based on main criteria and performance categories. Assessment is connected to innovation, creativity, and output/outcome of local government. 1,7 Regional Incentif Fund ( DID) (Rp Trillion) 5, ,5 8,5 SPECIAL AUTONOMY FUND AND DANA KEISTIMEWAAN DIY (Rp Trillion) 17,7 18,8 20,2 21, Dana Keistimewaan DIY Special fund for DIY to finance special activities for DIY consist of DIY Sultan coronation, cultural maintenance, land management, and spatial planning. Special Autnomy Fund (Dana Otonomi Khusus/Otsus) Special fund for Papua, Papua Barat, and Aceh Province to accelerate the government priority program (education health and infrastructure). Otsus Papua applied 20 years form 2002 until 2021 and otsus Aceh applied 20 years from 2007 until 2027 Distribution is based on performance of budget realization. KEMENTERIAN KEUANGAN RI 27

28 STRENGTHENING VILLAGE FUND TO SUPPORT NAWACITA AND FISCAL DECENTRALIZATION Reducing inequality and affirmative policy for villages in special region Tertinggal, Perbatasan, dan Kepulauan Village Funds (IDR Trillion) ,98 20, ,00 60,00 The 3rd Nawa Cita: Membangun Indonesia dari pinggiran dengan memperkuat daerah-daerah dan desa dalam kerangka NKRI 25,0 20,0 15,0 10, Village Funds Allocation per Region, 2015 vs 2018 IDR Trillion Village Fund as a key instrument of fiscal decentralization has strategic roles for Reducing inequality between regions Alleviating poverty Affirmative policy villages in special region Tertinggal, Perbatasan, dan Kepulauan 5,0 0,0 Sumatera Java Bali & Nusa Tenggara Borneo Sulawesi Maluku & Papua ,26 6,51 1,30 1,81 2,38 2, ,25 19,23 4,05 5,27 6,84 7,36 Allocation and Distribution of Village Fund Improving allocation up to 10% of State Budget exclude the Transfer to Region Reformulation of Village Fund considering distribution and equality. KEMENTERIAN KEUANGAN RI 28

29 Output dan Outcome of Village Funds Achieving output on the utilization of Village Funds can be increased significantly through synergy of village-funded management that is oriented towards poverty alleviation, employment creation, reduction of unemployment, and encourage inclusive economic growth OUTCOME VILLAGE ROADS km BRIDGE CLEAN WATER VILLAGE POND km unit unit Rural Gini Ratio (Inequality) National 0,34 0,32 POSYANDU unit VILLAGE MARKET unit EARLY CHILDHOOD EDUCATION IN VILLAGE (PAUD) unit Number of Rural Poor (Poverty) National 17,37 mill 16,31 mill OUTPUT WELLS & LATRINES DRAINAGE & IRIGATION Percentage of rural poor population (Poverty) National 14,2% 13,5% unit unit Source: Central Agency on Statistics BADAN KEBIJAKAN FISKAL - KEMENTERIAN KEUANGAN RI Output of Village Funds,

30 Thank You BADAN KEBIJAKAN FISKAL - KEMENTERIAN KEUANGAN RI 30