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Indonesia pushes budget deficit to 5%, cuts taxes amid virus

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The government will allocate US$24.8 billion to fight the pandemic, pushing the budget deficit to 5.07 per cent of gross domestic product this year, President Joko Widodo said in a televised speech Tuesday.

[JAKARTA] Indonesia cut corporate taxes and temporarily scrapped a budget deficit cap introduced after the Asian financial crisis to help shield the economy from the coronavirus outbreak.

The government will allocate US$24.8 billion to fight the pandemic, pushing the budget deficit to 5....

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