Indonesia plans to offer more gov’t bonds hinh anh 1Illustrative image (Photo: Internet)
Jakarta (VNA) – Indonesia plans to offer 886 trillion rupiah (57.16 billion USD) worth of government bonds in the last three quarters of this year after collecting 221.4 trillion rupiah from auctions in the first quarter.

Speaking at a recent online meeting of the House of Representatives, Finance Minister Sri Mulyani Indrawati said the government needs close to 1.3 quadrillion rupiah this year to finance a widening budget deficit of 5.07 percent of GDP and pay over 433 trillion rupiah for maturing government debts.

She said Indonesia’s economy grew by 4.5 percent and its inflation at 2.96 percent in the first quarter.

According to her, the country’s economic growth this year will depend on COVID-19 situation and the government’s spending.

Under the budget plan 2020, the State budget collection will drop by 10 percent to more than 1.76 quadrillion rupiah, or 78.9 percent of the initial target.

Meanwhile, State expenditure will increase from over 2.5 quadrillion rupiah to 2.6 quadrillion rupiah./.