JAKARTA: Indonesia’s government has proposed to parliament to hike 2017 spending and cut the revenue target, resulting in a wider budget deficit that almost reaches the legal limit, according to a government document.
By Indonesian law, the combined budget deficits of the central and regional governments in one year could not exceed 3 percent of gross domestic product (GDP).
The proposed revisions to the central government’s 2017 budget, released on Thursday, would create a fiscal deficit of 2.92 percent, a finance ministry document showed.