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Aug 16, 2024 - 21:11
By asia.nikkei.com

Indonesia forecasts smaller budget deficit of 2.53% of GDP in 2025

JAKARTA -- Indonesia's incoming president, Prabowo Subianto, is expecting to shrink the government's budget deficit next year despite a significant increase in spending to fund his flagship free meal program, outgoing leader Joko "Jokowi" Widodo announced on Friday.

Jokowi said when presenting the budget to parliament that the deficit target would be 2.53% of gross domestic product, or 616.2 trillion rupiah ($39.2 billion), in 2025 compared to 2.7% for this year.