2024 Indonesia's budget deficit may reach 2.7% of GDP due to increased state spending and fuel subsidies due to rupiah depreciation.

Indonesia's budget deficit may reach 2.7% of GDP in 2024, higher than the government's 2.29% target. The finance minister attributes this to increased state spending due to the depreciation of the rupiah. The government's fuel subsidies have also risen due to the weaker rupiah. Despite this, the government will remain vigilant in debt management and optimize the use of excess cash from last year's budget.

July 08, 2024
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