President-elect for the term 2024-2029, Prabowo Subianto, has affirmed his commitment to keeping the fiscal deficit in the State Budget (APBN) below 3% relative to the Gross Domestic Product (GDP). This assurance was conveyed by Indonesian Minister of Finance, Sri Mulyani, during a press conference on the Current Fundamental Economic Conditions and the 2025 State Budget.
Sri Mulyani stated that Prabowo has assured them that the deficit in the 2024 APBN will remain below 3%, which is a mutual commitment that has been communicated. She also revealed that the government and the House of Representatives (DPR) have agreed that the budget deficit for 2025 will be between 2.29% and 2.82% of the GDP.
Furthermore, the continuous management of the fiscal deficit also addressed speculations that the debt ratio would rise to 50% of the GDP. It was emphasized that there is no gap between the budget being drafted under President Jokowi and the priority programs of the incoming Prabowo administration.
Thomas Djiwandono, a member of the Prabowo-Gibran Government Transition Task Force, reiterated the commitment to not increasing the debt ratio to 50% of the GDP. He emphasized the team’s dedication to meeting the targets agreed upon by the government and the DPR for the upcoming 2025 State Budget.
