KONTAN.CO.ID - JAKARTA. Indonesia's fiscal deficit in 2019 is seen widening to around 2.0%-2.2% of gross domestic product (GDP), a finance ministry official said on Friday, instead of the 1.93% forecast earlier as the government struggles to collect revenues. Luky Alfirman, the head of the department in charge of deficit financing, said markets should not worry about the health of the budget, stressing that government spending would still be used in a "counter cyclical fashion, but prudently". There would not be any budget cut for productive spending, but some operational allocations may be slashed, Alfirman said in a news conference, without providing details.
Indonesia 2019 budget deficit to widen to up to 2.2% amid pressure on revenue
KONTAN.CO.ID - JAKARTA. Indonesia's fiscal deficit in 2019 is seen widening to around 2.0%-2.2% of gross domestic product (GDP), a finance ministry official said on Friday, instead of the 1.93% forecast earlier as the government struggles to collect revenues. Luky Alfirman, the head of the department in charge of deficit financing, said markets should not worry about the health of the budget, stressing that government spending would still be used in a "counter cyclical fashion, but prudently". There would not be any budget cut for productive spending, but some operational allocations may be slashed, Alfirman said in a news conference, without providing details.