March 9, 2020 / 5:06 AM / 23 days ago

Indonesia finmin sees budget deficit widening to 2.2%-2.5% of GDP

JAKARTA, March 9 (Reuters) - Indonesia’s budget deficit will likely widen to within a range of 2.2%-2.5% of gross domestic product in 2020, compared with the government’s initial plan to keep it around 1.8%, Finance Minister Sri Mulyani Indrawati said on Monday.

The new deficit forecast had taken into account the impact of the global spread of coronavirus and the “drastic drop” in oil prices, she told reporters.

The government has announced a 10.3 trillion rupiah ($716 million) stimulus package to fight the economic impact of the virus outbreak. Indrawati said a second policy package with more tax breaks was being designed. ($1 = 14,385 rupiah) (Reporting by Maikel Jefriando; Writing by Gayatri Suroyo; Editing by Alex Richardson)

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