Indonesia's budget tips into deficit in October, on track for full year target

Sri Mulyani Indrawati, Indonesia's finance minister. - Bloomberg

JAKARTA, Nov 24 (Reuters): Indonesia's state budget tipped into 0.7 trillion rupiah (US$45.19 million) deficit for the January-October period, having shown 67.7 trillion rupiah surplus in the first nine months, and was on course to meet its full year deficit target, the finance minister said on Friday.

While the budget deficit for the first 10 months was equivalent to just 0.003% of gross domestic product, the government expects the 2023 deficit to be below 2.3% of GDP, reducing it from 2.35% in 2022.