The package announced would contribute to widening of budget deficit to 2.5% of GDP. FMTNews
Despite only 34 Covid-19 cases, Indonesia has been hit hard by the risk aversion sweeping global markets.
The package announced Friday, which includes a raft of tax breaks, would contribute to a widening of the budget deficit to 2.5% of gross domestic product, compared to an initial target of 1.76%, Finance Minister Sri Mulyani Indrawati said.The new package, which follows US$745 million in stimulus announced last month, comes amid a deteriorating outlook for Indonesia’s economy.
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