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Author: Tan KW   |   Latest post: Sun, 20 Sep 2020, 11:45 PM


Indonesia's president proposes US$254bil budget for 2021, deficit of 5.5% of GDP

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JAKARTA - Indonesian President Joko Widodo on Friday (Aug 14) proposed to parliament a 2,747.5 trillion rupiah (S$253.8 billion) budget for 2021 and pledged to continue efforts to support the economy amid uncertainties surrounding the coronavirus pandemic.

The budget proposal, which represents only a 0.3 per cent increase compared with this year's spending plans, assumed growth in South-east Asia's largest economy will rebound to 4.5 to 5.5 per cent in 2021, following an official prediction of near flat growth this year.

The proposal assumes a budget deficit of 5.5 per cent of GDP, smaller than the 6.34 per cent expected in 2020.

"The 2021 state budget bill is designed to accelerate economic recovery nationwide amid the Covid-19 pandemic," the president said in his annual budget speech to parliament, ahead of the country's independence celebrations on Aug 17.  

  - ANN


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