Indonesia Parliament Approves $216 Billion State Budget for 2024
- GDP growth, budget deficit seen unchanged from this year
- Price assumption for crude oil revised higher to $82 a barrel
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Indonesia’s parliament passed into law the $216 billion state budget for 2024 that will help President Joko Widodo accelerate development projects in his final year.
Lawmakers passed the budget into law at a plenary meeting on Thursday, with next year’s state spending seen higher at 3,325 trillion rupiah to support an economic growth target of 5.2%. The budget shortfall is set at 2.29% of gross domestic product.