Sunday, January 23, 2022

Finance Minister Tells Bali To Stop Relying On Tourism

 During her speech on Monday (17/1), Sri Mulyani suggested that the Bali provincial government should start developing another industry, such as agriculture, to support its economy. This is to supplement the growing international demand for organic food products.

“Bali has great potential with its Subak irrigation system and land potential for organic farming. These can help revive the economy during the pandemic,” Sri Mulyani said.

She reminds Bali to use this Covid-19 pandemic as a lesson to stop relying on one source of income. She also said that Bali needs to develop its Small and Medium Businesses (UMKM).

“The UMKM industry makes up 61.07 percent of our GDP. It was able to absorb 97 percent of the total workforce and 60 percent of the total investment in Indonesia,” Sri Mulyani added.

She also explained that the central government would provide massive support to the UMKM industry by offering loans, interest rate subsidies, and technical assistance to the participants. “The government will provide technical assistance to help our UMKM reach global markets and increase our export rate,” Sri Mulyani concluded.

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