Wednesday, 28 September 2011 17:49
JAKARTA: Indonesia's 2011 budget deficit will likely be less than 2 percent of gross domestic product due to low government spending, Agus Suprijanto, an official at the Finance Ministry, said on Wednesday.
The government had previously expected a budget deficit this year of 2.1 percent.
Last year, the budget deficit was 0.62 percent, far below a 2.1 percent projection, due to slow government spending in a country where red tape and bad infrastructure have hampered the growth potential in Southeast Asia's biggest economy.
Indonesia has been trying to reduce its debt levels to win an investment grade sovereign rating, while still investing heavily to overhaul poor infrastructure.
Copyright Reuters, 2011
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