Indonesia Proposes Budget with Shrinking Deficit, Pledges Balanced Budget by 2028

MACROECONOMICS - JAKARTA. Indonesia's President Prabowo Subianto on Friday proposed to parliament a $234 billion budget with a deficit forecast at 2.48% of GDP, while promising to try to gradually reduce the gap and balance the annual budget within three years.

The 2026 budget is designed to ensure the Southeast Asian country is strong, independent and prosperous, Prabowo said in his first speech on fiscal policy to parliament.