Prabowo’s First $237 Billion Budget Wins Indonesia Parliament Approval
- 2025 state budget set to cover priority plans, larger cabinet
- Indonesian rupiah assumption revised to a stronger 16,000
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Indonesia’s parliament approved a state budget that will help President-elect Prabowo Subianto get his administration and growth ambitions up and running next month.
Lawmakers passed the 2025 budget into law at a plenary meeting on Thursday, with state spending set at 3,621 trillion rupiah ($237 billion) to support an economic growth target of 5.2%. The outgoing President Joko Widodo set the budget shortfall at 2.53% of gross domestic product, narrowing from the 2.7% deficit estimated for this year.