2019 State Budget Deficit Will be Above 2%: Jokowi

    Desi Angriani, Christopher Harindra - 28 November 2019 13:50 WIB
    2019 State Budget Deficit Will be Above 2%: Jokowi
    President Joko Widodo (Photo:Medcom.id/Desi Angriani)
    Jakarta: President Joko “Jokowi” Widodo has predicted that this year's budget deficit will be above two percent. 

    It exceeds the threshold set by the government of 1.84 percent of the Gross Domestic Product (GDP).

    "This year's target is 1.9 percent, but maybe it will be around two percent," Jokowi said in the opening of the 2019 Kompas 100 CEO Forum at the Grand Ballroom of the Ritz Carlton Hotel, Jakarta on Thursday, November 28, 2019.

    Jokowi said that is still below the limit of three percent of the GDP. However, the government still needs to carefully maintain fiscal conditions macroeconomic indicators.

    "five-year inflation can maintain a position of approximately 3.5 percent, which was previously eight or nine percent. We must maintain it together," he said.

    In addition, the trade balance deficit and current account deficit must be corrected in the next four years. The deficit can be reduced through the development of downstream mining industries.

    According to him, these efforts will make Indonesia no longer dependent on imports so that gradually the trade balance deficit and current account will improve. The added value of the mining industry can also create other benefits such as job creation.


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