World Economy

Indonesia Budget Deficit Swells

Indonesia Budget Deficit SwellsIndonesia Budget Deficit Swells

Indonesia’s budget deficit for this year may increase to 2.7% of gross domestic product from a previous estimate of 2.5%, 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 $8 billion it originally planned in the first half of the year, as those companies had charged the government $6.5 billion up to July, Finance Minister  Mulyani Indrawati said late on Friday. Indonesian economic growth is still set to rebound in 2016 after having experienced several years of slowdown.