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View all search resultsThe deputy finance minister has revealed that the 2025 state budget plan has adequate fiscal space for the agenda of Prabowo's incoming government, including the creation of any new ministries under a law revision that eliminates the cap of 34, which is expected to be passed before the end of this month.
The Finance Minister has proposed a new state budget mechanism for meeting the mandatory 20 percent allocation for education, which has raised fears among experts that schools, teachers and students will all be left shortchanged.
Domestic firms want to see the state commit more funds to the future capital city before they themselves feel confident about investing, as they believe the megaproject’s development remains heavily dependent on fiscal support.
Indonesia booked its first deficit of the year at 0.1 percent of GDP in May as state revenue fell 7.1 percent amid a flurry of spending that grew 14 percent in May, including on social assistance to mitigate the impacts of El Niño on food prices.
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