Indonesia's Prabowo to Allow Debt-to-GDP to Reach 50%, FT Reports

MACROECONOMICS - JAKARTA. Indonesian President-elect Prabowo Subianto will allow the nation's debt-to-GDP ratio to rise to 50% provided his administration can boost tax revenues, the Financial Times reported citing one of his closest advisers.

Prabowo's brother and adviser Hashim Djojohadikusumo told the Financial Times in a London interview that Indonesia could still retain its investment-grade rating even if the debt-to-GDP ratio rises to 50%.