Indonesia raises budget deficit to 6.34 percent of GDP
The Indonesian Government widened the state budget deficit to 6.34 percent of the gross domestic product (GDP), or 1,039.2 trillion IDR (73.28 billion USD), in the revised state budget 2020, from earlier 5.07 percent, or 852.9 trillion IDR.
Illustrative image (Source: Reuters)Jakarta (VNA) - The Indonesian Government widened the state budget deficit to 6.34 percent of the gross domestic product (GDP), or 1,039.2 trillion IDR (73.28 billion USD), in the revised state budget 2020, from earlier 5.07 percent, or 852.9 trillion IDR.
Finance Minister Sri Mulyani Indrawati said at an online press conference on June 3 that the government will amend Presidential Regulation No. 54 of 2020 on revision of the state budget 2020.
This is to help accommodate expenditures for economic recovery and COVID-19 handling, the minister noted.
The changes will boost the size of the 2020 budget to 2,738.4 trillion IDR, she said.
According to Indrawati, the COVID-19 combat is predicted to cost 677.2 trillion IDR, including 87.55 trillion IDR for health.
The government has also offered tax incentives worth 123.01 billion IDR to private and State-owned enterprises./.
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