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View all search resultsThe government projected its budget deficit to reach Rp 310.8 trillion (US$22.28 billion) this year, equal to 1.93 percent to gross domestic product (GDP), slightly higher than the Rp 296 trillion deficit targeted in the 2019 state budget, which would have been 1.84 percent of GDP.
In an effort to encourage tourist spending and empower small and medium enterprises (SMEs), the government will revise a regulation pertaining to value-added tax (VAT) that would allow foreign tourists to get tax refunds for their spending.
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