Jakarta ● Sat, October 1 2022
The House of Representatives passed the 2023 state budget bill into law, restoring a targeted shortfall of below 3 percent, which has been detaining Indonesian fiscal expansion for the past three years due to the COVID-19 pandemic, while also calculating the risk of a commodity-windfall finale.
The government set the 2023 budget deficit at 2.84 percent of GDP, much lower than this year's revised figure of 4.5 percent. That target is equivalent to Rp 598.2 trillion (US39.31 billion), which drops by almost a third of this year's revised Rp 840.2 trillion.
It also proves that the government has managed to keep its promise of not overstaying the "above 3-percent deficit policy" as mandated by 2020 law on COVID-19 response, which ordered the measure to end by 2023.
to Read Full Story
- Unlimited access to our web and app content
- e-Post daily digital newspaper
- No advertisements, no interruptions
- Privileged access to our events and programs
- Subscription to our newsletters
Or let Google manage your subscription
- California Supreme Court hears suit on public pension law aimed at saving billions
- Tax cuts risk service cuts or budget deficits if Treasury's optimism is misplaced
- The Spot: Colorado’s U.S. Senate primary takes a weird turn, and painful budget battle starts next week
- New Budget Estimate Shows Trump Tax Cuts Created a Fiscal Disaster
- Column: As coronavirus devastates state budgets, conservatives target public worker pensions
- Predator: Hunting Grounds aims for B-movie authenticity and hits its mark, for better and worse
- Coronavirus as it happened: German ministers aim to reopen restaurants within 2 weeks
- India's tweaking of FDI norms aimed at only China
- Darling no more: Hollywood flees Louisiana for sweeter taxes
- Iraq’s revenues plummet, raising fears of economic collapse
- Energy bills could fall by £50 in autumn statement measures
- BUSINESS NEWS HEADLINES MAY 3
- Mail’s £1m airlift for NHS heroes: In a dramatic PPE crisis intervention, we buy 150,000 protective coveralls & masks from China – then fly them in for frontline hospital staff
- The Best Horror Movies Streaming Right Now
- Coronavirus live updates: Anonymous donor gives $1 million to Santa Cruz hospital workers
- Save the United States Post Office and Make Your Dog Look Only a Little Silly in the Process
- Column: Supreme Court overturns key GOP sabotage of Obamacare, granting insurers $12 billion
- Senate Intelligence Committee finds no evidence of collusion between Russia and the Trump campaign
- RPT-ANALYSIS-Putin's problems mount as coronavirus hits Russian economy
- Louisiana Legislature convenes but has a lot work to do in the next 28 days
2023 Budget Law aims for 2.84% shortfall to escape prices trap have 415 words, post on www.thejakartapost.com at October 1, 2022. This is cached page on Travel News. If you want remove this page, please contact us.