Indonesia's end-March fiscal deficit at 0.82% of GDP
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[JAKARTA] Indonesia ran a budget deficit of 144.2 trillion rupiah (S$13.1 billion) as of the end of March, or 0.82 per cent of GDP, as tax revenues shrank while spending rose to support economic recovery, the finance ministry said on Thursday.
Total government spending increased by 15.6 per cent year-on-year to 523 trillion rupiah, while total revenue rose by just 0.6 per cent amid a 5.6 per cent contraction in income from tax payments.
Finance Minister Sri Mulyani Indrawati described the recovery trend as "very convincing", citing improving leading indicators in March and an expected acceleration of economic growth in the second quarter.
She kept the 2021 economic growth forecast at 4.5 per cent to 5.3 per cent.
REUTERS
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