Indonesia pledges to return to 3% fiscal deficit limit by 2023

JAKARTA: Indonesia’s government will keep its promise to gradually reduce the budget deficit and return to fiscal discipline, after it had to raise the deficit cap this year amid the coronavirus pandemic, a top economic official said.

The government will lower the funding gap next year and restore the deficit cap of 3% of gross domestic product by 2023, Febrio Kacaribu, head of fiscal policy at the Finance Ministry, said in an interview in Jakarta.