Indonesia Proposes 2025 Budget Targeting Narrower Deficit

STATE BUDGET - JAKARTA. Indonesia's outgoing government submitted a 2025 budget plan to parliament on Friday targeting a narrower deficit than this year, which analysts said signalled Southeast Asia's largest economy would remain fiscally prudent under its next president.

The budget proposal worth 3,613.1 trillion rupiah ($230 billion), prepared by ministers under outgoing President Joko Widodo and president-elect Prabowo Subianto's economic team, projects a deficit of 2.53% of GDP next year, narrower than this year's expected 2.7%.