Indonesia finance ministry cancels bond auctions for rest of 2021

MACROECONOMICS - JAKARTA. Indonesia's finance ministry on Thursday said it has cancelled all scheduled bond auctions, including for Islamic bonds, for the rest of 2021 due to sufficient funding for the year's budget.

The ministry may conduct pre-funding auctions for the 2022 budget, subject to macroeconomic and financial market conditions as well as its estimate of cashflow needs for the beginning of next year, it said in a statement.

The government predicts that its budget will post a deficit of under 5.4% of gross domestic product this year, according to its latest estimate made last month. Next year's deficit target is 4.85% of GDP.

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