Indonesia's Budget Deficit Has the Potential to Widen, the Option is to Increase Debt

SOVEREIGN DEBT - JAKARTA. The Indonesian government's foreign debt is projected to swell in line with the widening of the state budget deficit for 2024.

International credit rating agency, Fitch Ratings, forecasts that the state budget deficit could approach 3% of the gross domestic product (GDP) for this year and the next. This estimate is wider than the government's target for the 2024 state budget deficit, which is 2.29% of GDP.