Indonesia fin minister proposes a 4.51per cent-4.85per cent deficit, new tax in 2022

Indonesian Finance Minister Sri Mulyani Indrawati on Thursday proposed to parliament a budget deficit of 4.51per cent-4.85per cent of gross domestic product for 2022, as well as potential new taxes to increase revenue amid improving economic conditions.

FILE PHOTO: Indonesia's Finance Minister Sri Mulyani Indrawati attends the World Economic Forum on ASEAN at the Convention Center in Hanoi, Vietnam September 12, 2018. REUTERS/KhamJAKARTA: Indonesian Finance Minister Sri Mulyani Indrawati on Thursday proposed to parliament a budget deficit of 4.51per cent-4.85per cent of gross domestic product for 2022, as well as potential new taxes to increase revenue amid improving economic conditions.

The proposal was based on the assumptions that the rupiah exchange rate would average 13,900 to 15,000 a dollar and the yield of the benchmark 10-year bond would be within a range of 6.32per cent to 7.72per cent.The country's oil lifting in 2022 is expected to be 686,000-726,000 barrels per day, while gas lifting was seen at 1.031 million-1.103 million barrels of oil equivalent per day, she said. Indonesia is targetting 5.2per cent-5.

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