Macroeconomic Forecast Indonesia

Indonesia's budget deficit will surge this year as the government implements more stimulus to boost domestic demand. Currently, we are anticipating revenues to fall by 4%, while expenditure growth should remain robust at 9%, implying a deficit of about IDR155.3trn (3.0% of GDP). However, the successful issue of sovereign bonds and sufficient funding for the country's Public Expenditure Support Facility (PESF) means that the deficit will be well covered.

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