June 3, 2020 / 5:02 AM / a month ago

Indonesia finmin sees 2020 budget deficit widening to 6.34% of GDP

JAKARTA, June 3 (Reuters) - Indonesia’s 2020 budget deficit is expected to widen further to 6.34% of gross domestic product as the government stepped up spending for its coronavirus response and economic stimulus, Finance Minister Sri Mulyani Indrawati said on Wednesday.

Her previous estimate had been a deficit of 6.27% of GDP.

Total spending for the so-called National Economic Recovery Programme in 2020 is expected to rise to 677.2 trillion rupiah ($47.76 billion), Indrawati said, up from the 641.17 trillion rupiah she had announced.

The changes will boost the size of the 2020 budget to 2,738.4 trillion rupiah ($193.12 billion), she said. ($1=14,180.0000 rupiah) (Reporting by Gayatri Suroyo and Maikel Jefriando; Editing by Clarence Fernandez)

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