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Indonesia 2016 budget deficit may swell to 2.7% of GDP: ministry official

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Indonesia's budget deficit for this year may increase to 2.7 per cent of gross domestic product (GDP) from a previous estimate of 2.5 per cent, Askolani, the finance ministry's director general of budgeting, told Reuters on Saturday.

[JAKARTA] Indonesia's budget deficit for this year may increase to 2.7 per cent of gross domestic product (GDP) from a previous estimate of 2.5 per cent, Askolani, the finance ministry's director general of budgeting, told Reuters on Saturday.

The government may have to pay higher cost recovery for oil and gas contractors than the US$8 billion it originally planned in the first half of the year, as those companies had charged the government US$6.5 billion up to July, Finance Minister Sri Mulyani Indrawati said late on Friday.

REUTERS