Image: Reuters Berita 24 English - Wednesday, Indonesia's parliamentary budget committee and the government agreed to set a goal for eco...
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| Image: Reuters |
The committee and the government also agreed to spend 3,061.2 trillion rupiah ($205.31 billion) in 2023, which is a little more than the proposed budget, according to the chair of the committee, Said Abdullah.
The chair said that the two will talk more about the details of the spending before putting it to a vote by the whole parliament. The total amount of spending is not expected to change from what they agreed to on Wednesday.
"We still haven't discussed regional spending details," he said.
For the 2023 budget to be approved, the wider vote in parliament is needed. This would usually happen in late September or early October. Most of the time, the wider vote reflects what the budget committee says.
Said says that the goal for the budget deficit in 2023 was set at 2.84% of gross domestic product, which is slightly less than what the government proposed in August, which was 2.85% of GDP.
The government has said before that it will get its budget in better shape by cutting its deficit below 3% of GDP next year, as the law requires.
Indonesia skipped the budget deficit limit that was required by law for three years starting in 2020 so that the government could spend more money during the pandemic. The Finance Ministry still thinks that the deficit for this year will be 3.92 percent of GDP.
