Indonesia's incoming President Prabowo Subianto plans to increase debt-to-GDP ratio to fund campaign promises.

Indonesia's President-elect Prabowo Subianto intends to gradually raise the country's debt-to-GDP ratio by 1 to 2 percentage points annually, as reported by his advisor, Hashim Djojohadikusumo. This strategy aims to enhance tax revenues and support campaign promises, including free meals for 80 million children and pregnant mothers. The current debt-to-GDP is below 40%, and Prabowo plans to comply with fiscal laws limiting the budget deficit and debt levels.

October 07, 2024
8 Articles