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Indonesia’s Prabowo Plans to Increase Debt to Fund Spending Plans

The Diplomat LogoThe Diplomat6d ago

Indonesia’s Prabowo Plans to Increase Debt to Fund Spending Plans - The Diplomat

Quick Summary:

The president-elect plans to increase the country's debt-to-GDP ratio to 50 percent, up from 39 percent currently, in order to achieve his ambitious growth targets.

Yesterday, the Financial Times published an article confirming that Indonesia’s incoming president Prabowo Subianto is planning to take on considerable debt in order to fund his ambitious spending programs.

Hashim told the FT that the government would also seek to raise additional revenue from “taxes, excise taxes, royalties from mining and import duties,” which would help to offset the increase in spending.“We don’t want to raise the debt level without raising revenue,” he said.

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Article Details

Author / Journalist: Sebastian Strangio

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-11 @ 10:49:00 (6 days ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 1777 words

Reading Time: 10 minutes read

Sentences: 74 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Diplomat

News ID: 21657889

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