TheJakartaPost
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The government now expects the fiscal deficit to reach Rp 1 quadrillion (US$67.32 billion), 5.7 percent of GDP, and increase by Rp 35.2 trillion compared to the previous estimate of 5.5 percent of GDP, as income from taxes will fall further.
The deficit amounts to 1.57 percent of the country’s gross domestic product (GDP), the highest half-yearly deficit recorded since the first half of 2016 but still below the government’s expectation of 6.34 percent this year.
Finance Minister Sri Mulyani Indrawati said the government expected a 10 percent drop in tax revenue this year as a result of incentives for businesses to help them cope with COVID-19 and reduced non-tax revenue on account of falling commodity prices.
