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Indonesia parliament body, govt agree to widen 2021 fiscal deficit to 5.7% of GDP

Reuters - September 11, 2020

Jakarta – A key Indonesian parliamentary committee on Friday reached an agreement with the government to expand the 2021 budget deficit to 5.7% of gross domestic product, from 5.5% initially proposed by President Joko Widodo, the committee chairman said.

The 2021 economic growth target was approved at 5%, the midpoint of the president's proposed range of 4.5%-5.5%, while the rest of the budget assumptions were approved by the budget committee without changes.

With the approved changes, total spending for 2021 was temporarily set at 2,750 trillion rupiah ($184.69 billion), slightly up on the 2,747.5 trillion the president proposed in August, said committee chairman Said Abdullah.

The committee's approval will be voted on by parliament later, but its endorsement is usually passed. ($1 = 14,890.0000 rupiah)

[Reporting by Tabita Diela and Gayatri Suroyo Editing by Ed Davies.]

Source: https://uk.reuters.com/article/indonesia-economy-budget/indonesia-parliament-body-govt-agree-to-widen-2021-fiscal-deficit-to-5-7-of-gdp-idUKJ9N2C203O