Sunday, August 20, 2017 - 5:45:18

Indonesia prepared to deal with more-than-expected budget deficit

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The Indonesian Government has prepared measures to cope with a case that the country’s budget deficit exceeds the limit of 2.4 percent of the GDP set in the revised 2014 budget plan.

The measures will be carried out in the remaining months of the year to ensure the macro financial stability in the period of transition to the new government, said Finance Minister Chatib Basri.

The current government will end its term in late October when the new one is set up following a presidential election scheduled for July 9.

The revised 2014 budget plan targets an economic growth rate of 5.5 percent and an inflation rate of 5.3 percent. The exchange rate between the domestic currency and US dollar will be 11,600 Rp per USD.

Crude oil prices are expected to remain at 105 USD per barrel. Oil production will increase from 870,000 barrels per day to 818,000 barrels per day while gas output is seen at 1.224 million barrels of oil equivalent per day.-VNA
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