Indonesia’s finance chief further cut estimates for the budget deficit this year and next, as a fresh round of tax hikes is set to bolster the government’s earnings.
The shortfall should come in at 4.1% of gross domestic product in 2022, much lower than the 4.85% it set in the national budget, Finance Minister Sri Mulyani Indrawati said in an interview with Bloomberg Television’s Rishaad Salamat. That’s a steep decline from this year, when the deficit is seen at the lower end of the 5.1%-5.4% range due to tempered spending and an 18% jump in state revenues as of October, she said.
