Indonesia proposes 2022 fiscal deficit at 4.85per cent of GDP
Indonesia's President Joko Widodo on Monday proposed to parliament a 2,708.7 trillion rupiah (US$188.30 billion) budget for next year, with a fiscal deficit equal to 4.85per cent of GDP, aimed at boosting an economic recovery from the pandemic.
The president has set a gross domestic product growth target within a range of 5per cent to 5.5per cent next year, compared with this year's estimate of 3.7per cent to 4.5per cent growth. The economy shrunk by 2.1per cent last year, the first contraction since 1998 due to the fallout of the COVID-19 pandemic.
Source: www.channelnewsasia.com
