Indonesia on track for budget deficit of 2.2% of GDP

Mulyani Indrawati Indonesia

JAKARTA: Indonesia is on track for a budget deficit of 2.2% of gross domestic product (GDP), wider than planned but in line with the government’s latest projection, as revenue collection remained weak towards year-end, according to its finance minister.

Government revenue in South-East Asia’s largest economy has taken a hit as economic growth weakened, exports slumped and oil and gas production missed targets, pressuring the budget deficit.