YAKARTA (Reuters) – Indonesia’s President Joko Widodo on Friday proposed to parliament a budget of 2,747.5 trillion rupees ($186.08 billion) by 2021 and pledged to continue his efforts for the economy amid the uncertainty surrounding the coronavirus pandemic.
The proposed budget, which represents a 0.3% accumulation of this year’s spending plans, assumes that expansion in Southeast Asia’s largest economy will recover to 4.5% -5.5% in 2021, following an official forecast for near-stable expansion this year.
The proposal assumes a budget deficit of 5.5% of GDP, a decrease of 6.34% expected in 2020.
“The State Budget Bill 2021 is designed to boost economic recovery across the country amid the COVID-19 pandemic,” Widodo said in his annual budget address to parliament before the country’s independence celebrations on August 17.
($1 – 14765,0000 rupees)
Reporting through Gayatri Suroyo, Fransiska Nangoy, Tabita Diela and Maikel Jefriando; Edited through Ed Davies
All quotes were delayed for at least 15 minutes. See here for a complete list of transactions and delays.
© 2020 Reuters. All rights are reserved.