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Economy in brief: State budget to pass without much hassle
The 2016 state budget draft is expected to pass without much hassle at the House of Representativesâ budget committee, the committeeâs chairman has said
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he 2016 state budget draft is expected to pass without much hassle at the House of Representatives' budget committee, the committee's chairman has said.
Ahmadi Noor Supit assured those concerned on Wednesday that no other changes would occur to the latest budget draft, which will be finalized during a meeting with the government on Thursday. 'Up until today, all the figures have stayed the same as already agreed,' he said.
According to the latest posture, state revenues are expected to reach Rp 1.82 quadrillion (US$133.71 billion) in 2016. The figure has been lowered from the previous target of Rp 1.85 quadrillion to be in line with the latest economic growth outlook.
As reported before, the economic projection for 2016 has been set at 5.3 percent, down from 5.5 percent proposed in the original budget draft.
On the other hand, state spending is estimated to amount to Rp 2.09 quadrillion, resulting in a budget deficit forecast of 2.15 percent.
Supit said that the only change that had occurred was in article 12 of the draft that previously made way for lawmakers to propose projects under the special allocation funding (DAK) scheme.
'I have asked for the clause to be removed from the draft. Such a concept does not exist because only the government can propose the projects,' he said.
The draft will be finalized and be passed into law on Friday when the House holds its plenary session.
