Illustrative Image (Source:business.asiaone) The Indonesian Ministry of Finance has said the country would borrow 4.2 billion USD from the World Bank and the Asian Development Bank (ADB) to cover budget deficit.
The loans would strengthen the country’s forex reserves, which the central bank said fell to 103 billion USD, according to the ministry.
Besides, Indonesia will issue around 500 trillion rupiah (34.3 billion USD) worth of bonds in 2016, of which 30 percent could be in foreign currency.
Earlier, Indonesian President Joko Widodo submitted to the Parliament the 2016 budget estimate in which budget deficit is estimated to account for 2.1 percent of the gross domestic product (GDP).-VNA
VNA
