Indonesia keeps budget deficit target at 5.7% of GDP despite bigger COVID-19 budget

Indonesia keeps budget deficit target at 5.7% of GDP despite bigger COVID-19 budget

Cranes are seen over the skyline of the Indonesian capital Jakarta
FILE PHOTO: Cranes are seen over the skyline of the Indonesian capital Jakarta November 5, 2015. REUTERS/Darren Whiteside

JAKARTA: Indonesia's budget deficit target will be kept at 5.7 per cent of gross domestic product and the government will cut allocation for other areas to cover for rising spending on health care and welfare programmes, its finance minister said on Wednesday (Jul 21).

Sri Mulyani Indrawati also said in an online news conference that 150.8 trillion rupiah of the government's cash reserves will be used to reduce bond issuance target for the year.

The minister has previously announced the government has increased its COVID-19 response budget to 744.75 trillion rupiah (US$51.22 billion) from 699.43 trillion rupiah previously.

BOOKMARK THIS: Our comprehensive coverage of the COVID-19 pandemic and its developments

Download our app or subscribe to our Telegram channel for the latest updates on the coronavirus outbreak: https://cna.asia/telegram

Source: Reuters

Bookmark