Indonesia’s budget deficit rises in 11 months

VNA
Indonesia’s budget deficit neared US$26.28 billion during January - November, or 2.29 percent of the gross domestic product (GDP), compared to 1.8 percent of the GDP during the same period last year.

Illustrative image (Photo: Internet)

Illustrative image (Photo: Internet)

Indonesian Finance Minister Sri Mulyani Indrawati told a recent press conference that the government targeted booking a deficit of 2.26 percent later this year, higher than the initial plan of 1.84 percent.
She attributed that to weak revenue collection amid slowing global economic growth.
As of the late November, Indonesia’s budget collection hit only US$119.2 billion, or 77.5 percent of the 2019 target.
Meanwhile, public spending was equivalent to 83.1 percent of the ceiling budget for 2019, up 5.3 percent annually.

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